“Today’s borrowers don’t fit in a one-size-fits-all mortgage,” PrimeLending chief production officer Tim Elkins said in a release announcing the launch of the new offering. “With Loan Lift we can offer our customers more options and more expertise when financing a home. It’s just one more example of how the customer always comes first at PrimeLending.
According to PrimeLending, Loan Lift uses new technology to gather a comprehensive picture of a borrower’s financial situation. It collects data on assets, income, and employment history, while also documenting rent payments, shared bill payments, and positive cash flow activities that may not be captured by standard underwriting systems.
Read next: Non-QM platform launched for lenders who want to outsource
To facilitate this process, PrimeLending has partnered with PointServ, a secure third-party provider that digitally documents and verifies transactions and personal financial history within minutes. This allows PrimeLending’s mortgage professionals to assess each borrower’s unique circumstances and explore a wider range of home financing solutions.
PrimeLending offers over 400 mortgage programs and operates in all 50 states, serving customers looking to buy, refinance, renovate, or build a home. The company, a wholly-owned subsidiary of PlainsCapital Bank, has been in operation since 1986.
Source: mpamag.com