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June Point Lending adds DSCR non-QM loans in California
The expansion extends the lender’s DSCR non-QM program to 19 states and lets brokers upload a 1003 for initial eligibility results within minutes.
HousingWire reports that June Point Lending expanded its wholesale non-QM debt service coverage ratio, or DSCR, lending to California, extending DSCR coverage to 19 states.
The lender said brokers can upload a Uniform Residential Loan Application, known as a 1003, to receive initial eligibility results within minutes, with key requirements identified early in the process.
June Point Lending described the California expansion as giving mortgage brokers access to its technology platform, designed to streamline a traditionally manual non-QM lending workflow.
The company said brokers have sought solutions for clients such as real estate investors and self-employed borrowers whose finances may not fit traditional underwriting criteria.