Jumbo Preferred News Today

Plaza Home Mortgage Inc., a wholesale and correspondent mortgage lender, has added a Jumbo Preferred Program that features both fixed and adjustable rate mortgages (ARMs), competitive rates, and loan amounts up to $3 million, the company said.  Plaza’s program can be used for primary, second home, and investment properties, as well as for single-family, 2-4 unit and condominiums. Borrowers can have debt-to-income ratios (DTIs) up to 43% and FICO scores to 700 (fixed) and 720 (ARM). The progra...

New player Tomo is entering this niche while a trio of established players enhance their existing offerings for their third-party channels.