“The introduction of our Conforming Elite program now positions 360 Mortgage as the one-stop/go-to wholesale lender for both top tier mortgage products and higher loan-to-value ratio loans such as HARP,” commented Mark Greco, president.
“Mortgage brokers partner with 360 Mortgage because of our total value approach, which includes easy-to-use and efficient technology, product knowledge and best-in-class service. With the introduction of our Conforming Elite program, mortgage brokers now can benefit from two additional key value propositions, an expanded product portfolio and the most competitive pricing in the wholesale channel, to help clients with top credit scores and low LTV purchase or refinance of a home.”
The company will do 30-year and 15-year fixed loans in the Conforming Elite program. The loan limit is $417,000, with a maximum LTV of 80% and a minimum credit score of 720. The property can be a primary or second home, single-family or planned unit development.
Agency cash-outs are not permitted and there cannot be any subordinated financing on the property.