Verus Mortgage Capital is a non-agency wholesale lender focused on non-QM and expanded credit products. They operate exclusively through the wholesale broker channel and do not originate retail loans. Their product menu is designed for borrowers who do not fit conventional or government lending parameters.
Core Non-QM Product Lines
- ✦Bank statement loans: income qualification based on personal or business bank statement deposits rather than tax returns
- ✦DSCR loans: debt service coverage ratio qualification for investment properties without borrower income documentation
- ✦Jumbo non-QM: higher loan amounts with alternative documentation standards
- ✦Foreign national programs: lending to borrowers without US credit history or Social Security numbers
- ✦Asset depletion: income qualification based on the depletion of documented liquid assets
What Makes Verus Relevant for Brokers
Verus is relevant for brokers who regularly handle self-employed borrowers, real estate investors, and foreign national clients that cannot be placed with conventional lenders. Their DSCR program covers both single-family investment properties and small multifamily. Brokers should request the current program matrix from their assigned Verus account executive, as minimum FICO thresholds, maximum LTV caps, and documentation requirements are program-specific and updated periodically.
Program and Credit Parameters
- ✦Minimum FICO scores and maximum LTV limits vary by product and documentation type
- ✦Bank statement programs typically offer 12-month or 24-month averaging options
- ✦DSCR programs offer interest-only and fully amortizing options with different LTV and FICO requirements
- ✦Prepayment penalties apply on most non-QM investor products; step-down structures are common
- ✦Property types: single-family, 2-4 units, condos, PUDs, and some condotels depending on program
How to Evaluate Verus for Your Pipeline
- ✦Pull the current product matrix and compare minimum FICO and maximum LTV to your typical non-QM scenario profile
- ✦Compare bank statement income calculation method: expense factor used, 12 vs. 24 month averaging, personal vs. business account weighting
- ✦Compare DSCR ratio requirements and interest-only availability against other non-QM lenders in your stable
- ✦Ask about exceptions: whether manual exception pricing or guideline exceptions are available for strong borrower profiles
Aria can compare non-QM lender program parameters including DSCR, bank statement, and foreign national guidelines for a specific borrower scenario. Ask at vicariointel.com.
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