Virgin Markets Mortgages Designed to 'Uncrunch America'

Virgin Money USA, Waltham, Mass., is marketing its traditional and social mortgage lending through "Uncrunch America," a campaign with Lending Club and other personal finance companies aiming to provide viable financing alternatives to consumers who lack them due to today's high credit card rates and tighter bank credit. Virgin Money USA said its social mortgages made between people that know each other often provide greater flexibility and lower rates than a traditional mortgage. It added that it aims to offer both "fair rates" and a "timely closing" when it comes to both these and its traditional mortgages. Personal finance companies also participating in the campaign are OnDeck Capital, Credit Karma, Geezeo and Changewave. Virgin Money is owned by British conglomerate the Virgin Group.