ALTLOAN™ Announces the Launch of its Non-QM Eligibility Engine & Self-Service Loan Portal

News provided by

ALTLOAN

Jan 02, 2018, 08:00 ET


COSTA MESA, Calif. (PRWEB) January 02, 2018 -- Non-QM lender, ALTLOAN™ has launched an online Pricing Eligibility Engine & Self-Service Loan Portal for Non-QM (non-agency and hard money) mortgage financing. The first of its kind, this system provides real time rates for alternative products, bringing the ease, speed, and transparency once available only for prime lending, to the Non-QM market.

ALTLOAN is launching with a wide range of alternative loan products up to $3,000,000 for 1-4 unit properties. Loan products include:

  • Jumbo Prime
  • Alt-Doc Alt-A Loans
  • Alt-Doc Non-Prime Loans
  • No Doc Investor Term Loans
  • No Doc Investor Bridge Loans
  • No Doc Investor Fix & Flip Loans

Standardized pricing and a technology-driven system allows ALTLOAN to operate quickly and efficiently. This means:

  • Prequals within 24 hours for certainty-of-close
  • Disclosures within 24 hours after submission
  • Underwriting Decisions within 48 hours after disclosures are signed
  • Condition Review within 24 hours of receipt
  • Doc Draws within 24 hours of clear-to-close
  • Fundings within 24 hours of receiving all closing conditions

This simplified and reliable approach to alternative lending is expected to disrupt the wholesale lending industry by providing Third Party Originators with an efficient way to grow their Non-QM fundings.

ALTLOAN, a division of ALTRA Mortgage Capital LLC, brings together the expertise and innovative mindset of several experienced alternative lending industry veterans including CEO Brent Houston, President Blake Scheifele, COO Paul Lyons, CFO John duHadway and General Counsel Derrick Gruner.

“We saw a huge need in the non-agency and hard money market, and wanted to go further than simply fixing the many problems with existing lending options,” said Brent Houston, CEO of ALTRA Mortgage Capital. “Instead, we redesigned the process from start to finish, creating a system that is fast, efficient, and straightforward.”

View the Pricing Eligibility Engine & Loan Portal at https://www.ALTLOAN.com

Blake Scheifele, ALTLOAN, https://www.ALTLOAN.com, 424.252.2728, [email protected]