Multiple mortgage lending programs that don’t meet Qualified Mortgage requirements are being offered to mortgage loan brokers.
A&D Mortgage is a wholesale residential and commercial mortgage lender that operates from its headquarters in Hollywood, Florida.
The wholesaler said it recently launched a suite of non-QM products that help brokers service residential and commercial borrowers.
Among the new offerings are
non-QM residential, non-QM investors/commercial and non-QM foreign nationals.
The programs “provide an alternative to our clients to close those loans that they couldn’t close somewhere else, yet without have to resort to hard money loans,” A&D Mortgage President Max Slyusarchuk said in the press release.
Interest rates start at 7.99 percent — about 400 basis points higher than on conforming interest rates.
A&D, which claims to be “one of the largest ‘private lenders’ in South Florida,” limits loan-to-value ratios to 65 percent.
Acceptable properties include single-family residences, townhomes and planned-unit developments. A&D will also finance non-warrantable condominiums and condo-hotels.
On the commercial real estate side, acceptable security includes multifamily properties, retail centers and office buildings.
“Domestic and foreign borrowers with significant down payments and who meet all legal requirements will be able to benefit from these loans that fall outside certain limits set by Freddie Mac and Fannie Mae while taking advantage of the limited income and asset documentation required by A&D,” the statement said.
A&D Mortgage has adopted the slogan, “The Power of Yes” — the same slogan used by the now-failed Washington Mutual.
Brokers can apply online with the wholesaler at .
