The Return Of Non-Agency Lending?

Caliber Home Loans, Inc., a residential mortgage origination and servicing company, today announced the launch of its new Non-Agency Mortgage Program, which adds four new products to the company’s innovative and diverse portfolio of mortgage solutions. The product line expansion allows Caliber to help more consumers achieve their goal of homeownership by expanding the options available to eligible and qualified borrowers.

“At Caliber, we recognize that there are qualified, creditworthy borrowers with home financing needs that are not being served by the agency and government programs that are currently available in today’s marketplace,” said Joe Anderson, Chief Executive Office of Caliber Home Loans. “Our goal is to increase the opportunities available to borrowers to expand the boundaries of homeownership and allow more qualified borrowers to enter the market. We are confident that our prudent underwriting guidelines, coupled with the way we have structured each of these products, creates a winning combination for both Caliber and the customers we serve. As one of the industry’s leading mortgage lenders, we are thrilled to be able to offer more home financing choices to even more customers.”

Caliber’s new Non-Agency Mortgage Program focuses on the needs of four types of borrowers, and includes:

>> Caliber’s “Fresh Start” Program: This credit re-establishment program is for borrowers who may have experienced a credit event, but cannot find a program in the marketplace that meets their needs as they re-establish a strong credit history.

>> Foreign Nationals: The program offers greater flexibility to qualified borrowers who are not citizens of the United States and whose mortgage needs are not being met by the market’s current offerings.

>> Non-Warrantable Condos: Fills the needs of borrowers who currently have limited options because they are looking to finance condos in projects that are not currently eligible for loans backed by the government sponsored agencies.

>> Non-Agency Alternative: Offers expanded guidelines and qualifying considerations for asset depletion to eligible, qualified borrowers, including expanded debt-to-income ratios, an interest-only option and no prepayment penalties.

Caliber’s robust underwriting procedures ensure that every borrower has the ability to repay the loan being provided, regardless of the product or loan type.

“We take the Ability to Repay requirements very seriously and want to ensure that all of the products and programs we offer are a good fit for our borrowers at the time of their application,” said Anderson. “By conducting in-depth Ability to Repay analysis on every loan we underwrite, we give customers the peace of mind that they are purchasing a property that they can afford.”

Caliber Home Loans, Inc. is a privately-held financial services company. Caliber’s headquarters are based in Irving, TX. The company is an approved Seller/Servicer for both Fannie Mae and Freddie Mac, an approved issuer for Ginnie Mae and is an approved servicer for FHA, VA and the USDA. The company carries multiple servicer ratings from Standard & Poor’s, Moody’s, Fitch and DBRS.

About The Author


Tony Garritano

Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at