Western Bancorp offers loan programs that fit the needs of Washington State home buyers and home owners.
(PRWEB) December 19, 2013
California Wholesale lender and technology provider Western Bancorp is pleased to announce expansion of its operations into Washington State. The company has named Michele Catoire Regional Sales Manager to lead the initiative and build a staff of Wholesale Account Executives.
Western Bancorp offers a variety of loan products that are designed to meet the needs of borrowers as rates trend upward. For example, the company offers several Jumbo products as well as adjustable rate mortgages (ARMs) for self-employed borrowers known as Alternative Income Verification (AIV) loans.
With AIV, income is verified using a minimum of three months of the borrower’s business bank statements rather than tax returns or business profit-and-loss (P&L) statements. The AIV loan program is available in Washington through Western Bancorp’s Wholesale and non-delegate Correspondent channels.
“Mortgage brokers have overcome enormous challenges in the last few years, but we see brokers once again becoming the preferred source of mortgage products and information for consumers,” said Western Bancorp CEO Rick Soukoulis. “Next we are bringing our wholesale lending programs and technology to brokers in Montana, Alaska and Wyoming.”
“We offer loan programs that fit the needs of Washington home buyers and home owners,” said Sharon Bitz, Western Bancorp’s SVP of Wholesale Lending. “In addition, we’re excited to have a knowledgeable and experienced leader like Michele Catoire in the field to support our Washington brokers and help ensure their success.”
In addition, Western Bancorp’s proprietary loan management system, LMS Xpress, is now available to Washington brokers. The end-to technology was designed to help simplify the loan process from submission to closing, while continually updating borrowers and others involved with the transaction.
About Western Bancorp: Western Bancorp is a San Jose based mortgage company serving the wholesale lending community in the Western U.S. Western Bancorp offers wholesale and correspondent lending services, and also develops the LMS Xpress loan management system technology platform.
The company offers a large selection of loan products, including Fixed-Rate Mortgages, Adjustable Rate Mortgages (ARMs), Jumbo loans and more at competitive rates. Western Bancorp lends in California, Washington, Idaho and Montana.