InterFirst Unveils 'DreamFirst' Product Line

InterFirst Wholesale Mortgage Lending, Ann Arbor, Mich., has announced the introduction of DreamFirst, a product line aimed at low- to moderate-income borrowers and those in underserved markets, such as immigrants.The company touted the new line as making affordable mortgages available at conforming mortgage prices, thereby protecting borrowers from predatory lending practices. Features include a higher debt-to-income ratio allowance, manual underwriting on "cautioned" or "referred" loans, and the acceptance of cash for a downpayment. "DreamFirst offers mortgage brokers an opportunity to grow their business, especially with those customers that are first-time homebuyers and borrowers with limited credit and limited funds to close," said Fran Clemens, InterFirst's senior vice president of emerging markets. InterFirst, a division of ABN Amro Mortgage Group, can be found online at http://www.interfirst.com.