Bank statement program: Ideal for the self-employed homebuyer. While the bank statement program is truly unique, there are signs the rest of the mortgage market is catching up to the evolution. As Rob Chrisman of Mortgage News Daily recently wrote, the non-QM space is becoming an increasingly high-traffic area of operation.
SimpleNexus tells us that its digital mortgage platform recently surpassed 20,000 active users. That roster includes superfans like Inlanta Mortgage’s top-producing LO, who has received more than 169.
Plaza Home Mortgage’s Solutions Non-QM loan program is tailored to help you qualify more buyers. With our bank statement options, it’s easier than ever for self-employed borrowers to demonstrate their income, helping them qualify for the loans they deserve.
I have provided the underwriter with cancelled checks written from a bank. allow the borrower to own other properties. At this point I feel like the underwriter is just looking for excuses to deny.
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This area of our website is restricted to individuals who have been supplied with a user account by Plaza Home Mortgage, Inc. These services are not intended for public use. Please contact your nearest Plaza Home Mortgage, Inc. office for more information.
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Plaza Home Mortgage announced this week it is rolling out an expanded non-QM lending program that will "allow brokers and correspondent lenders to qualify more non-traditional borrowers."
The business bank statements must reflect deposits no less than 5% of the revenue stated on the P&L (In all 3 scenarios, issues such as Non-sufficient Funds (NSF) or Over-Drafts, even if so-called Overdraft Protection is utilized, may have a bearing on the underwriter’s decision.
I have been working at Plaza Home Mortgage full-time for more than 3 years.. loan Servicing Specialist. I’d say the con is the mortgage industry vis-a-vis IT staff. Plaza does the best they can in an environment that is drowning in risk and regulation.
The Plaza Home Mortgage Solutions Non-QM program offers the ability to use business or personal bank statements to determine qualifying income for self-employed borrowers. This Quick Step Guide provides directions on how to submit bank statements to Plaza for review and determination of the monthly income.