CoreVest targets mortgage brokers with new wholesale partner channel

by Francis Monfort29 Sep 2017
CoreVest has launched a wholesale partner channel through which the lender is offering mortgage brokers access into the investor loan market.

Samuel Bjelac recently joined the company as vice president of wholesale lending to lead wholesale channel efforts. He previously served as divisional vice president with Carrington Mortgage Services, manager of correspondent and wholesale lending for Flagstar Bank, and area sales manager of wholesale lending for First Magnus Financial.

"We are thrilled to have Sammy join the CoreVest team. He is an industry veteran that will help us connect with mortgage brokers nationwide,” CoreVest COO Ryan McBride said. “The investor loan market is much larger than most realize and it is growing rapidly. We can provide brokers with innovative, easy-to-close products that are in high demand by their clients."

Through the wholesale program, CoreVest provides residential mortgage professionals access to several types of investor loans. The lender’s single-property rental loan can finance up to 75% of the value, which can range from $67,500 to $1.4 million, and features a 30-year fixed rate. The short-term fix-and-flip loans for individual properties can finance up to 80% of the cost, which can range from $250,000 to $3 million, and span 12 months.

Additionally, CoreVest offers products tailored to investors such as foreign nationals or those seeking to unlock equity from their investments. The lender also offers flexible acquisition criteria and the ability to stabilize properties for sale or rental and hold through its aggregation lines.


Related stories:
Fortress to acquire Colony American Finance
Jet Direct Funding launches wholesale lending channel
 

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