- Loan programs
Mar 09, 2022
LAKE FOREST, Ill, March 9, 2022 /PRNewswire/ -- Diamond Residential Mortgage Corporation, a Midwestern-based mortgage banker with over 30 branches across the US, today announced the launch of ITIN Mortgages - a new product that caters to borrowers that live and work in the US but do not have standard citizenship.
"The current mortgage market has proven to be quite the challenge for many borrowers," said Kris Brian, SVP of Mortgage Products at DRMC." That is why DRMC has stayed committed to the goal of finding a solution for all borrowers, including those underserved by the traditional mortgage industry."
DRMC adds ITIN mortgages to its growing suite of products designed to serve those overlooked by traditional lenders.
DRMC understands the inequities often found in the mortgage market and is working to address those issues and find solutions for underserved and often left behind borrowers. The company has advocated for not simply "no loan left behind" but "no borrower left behind" by identifying a wide range of solutions for a wide range of borrowers.
In addition to ITIN mortgages, DRMC offers a wide range of solutions not traditionally provided by local banks, all with the hope of helping everyone reach their dream of owning a home. These low-to-moderate income-driven solutions include: down payment assistance loans for those who cannot come up with the money required, refinance programs that reward borrowers who are making their payments on time, and flexible income review options for self-employed borrowers.
"I have seen even the most deflated borrowers come to DRMC after being turned away by countless other mortgage lenders, and find success in obtaining a loan," said Richard Smith, EVP of National Production. "With a continued commitment, catered solutions, and diligent problem-solving, we continue to find ways to get loans across the finish line."
Kris Brian recognizes the complex predicament borrowers currently find themselves in and reaffirms DRMC's commitment to finding solutions for all borrowers, including a workforce hit hard by the effects of the pandemic.
"The last two years have been tough on people," said Brian. "Maybe someone just finalized a bankruptcy, but they have the down payment and a history of making payments on time. Unfortunately, because of some agency guidelines or banking regulations, they're unable to get financing somewhere else - but we found solutions for them so they could realize their dream of homeownership."
About Diamond Residential Mortgage Corporation
Diamond Residential Mortgage Corporation is a Midwestern-based mortgage banker with corporate headquarters in Lake Forest, Illinois. Founded in 2009 by Paul Diamond, DRMC has since expanded to over 30 branch locations across the United States. For more information, visit: https://diamondresidential.com/
SOURCE Diamond Residential Mortgage Corporation
[Source publication: https://www.prnewswire.com/news-releases/diamond-residential-mortgage-ups-commitment-to-underserved-communities-through-new-product-launch-301498460.html]