FGMC Relaunches Non-QM Products: Maverick Solutions™

PLANO, Texas, Oct. 26, 2020 /PRNewswire/ -- First Guaranty Mortgage Corporation® (FGMC) is once again offering Maverick Solutions, the company's proprietary Non-QM product line. FGMC has officially released the Achiever Expanded Credit, Champion Prime Jumbo, and Visionary Investment products for Wholesale and Non-Delegated delivery. FGMC's mission is to help its partners expand their reach through Non-QM and to be an industry leader in the Non-QM space.

"Non-QM is a sector of the market that we are passionate about," Chief Executive Officer, Aaron Samples said. "We are committed to being leaders in the Non-QM space and continuing to tell the unique stories of today's borrowers through our products."

The Achiever Expanded Credit product allows credit scores as low as 640 and loan amounts up to $2 million. The Champion Prime Jumbo product allows credit scores as low as 680 and loan amounts up to $3 million. The Visionary Investment product allows borrowers to qualify using the cash-flow of the subject property and has a debt service coverage ratio of 1.15%.

"I am thrilled to be a part of the FGMC team as we dive back into Non-QM," said Non-QM Business Development Manager, Paul Jones. "Maverick Solutions helps create possibilities for those who may be self-employed or who fall just outside the agency guidelines. It's exciting to bring more opportunities to our partners and expand the mortgage options available to today's borrowers."

To help support partners and clients, FGMC offers educational resources, a quick qualification tool that is powered by LoanNEX, and a Non-QM Structure Desk. Throughout November, Paul Jones will be leading 3 webinars to help clients understand the products and learn how to grow their business through Non-QM. To see his full schedule of webinars, visit https://fgmc.com/maverick-solutions/webinars/. If brokers or correspondent clients have questions about how to structure a deal, need help calculating bank statement income, or help evaluating credit grading, they can send their inquiries to the Maverick Solutions Structure Desk at nonqm@fgmc.com. Individuals can sign up to be a Wholesale partner at fgmcwholesale.com, or a Correspondent partner at fgmccorrespondent.com.

About First Guaranty Mortgage Corporation™ (FGMC) NMLS ID 2917
Licensed in 49 states + D.C. and celebrating more than 30 years in the mortgage business, First Guaranty Mortgage Corporation® (FGMC) is committed to always thinking outside the box and delivering the best possible experience for its lending partners and its borrowers. FGMC is headquartered in Plano, TX and operates Retail, Wholesale, and Correspondent channels. The FGMC mission is to tell the unique stories of today's borrowers. For more information on Maverick Solutions visit their website or LinkedIn. Have questions? Contact FGMC at NQMBD@fgmc.com get more information about Maverick Solutions.

Brittany Whitmire, SVP Marketing Brittany.Whitmire@fgmc.com
Paul Jones, Non-QM Business Development Manager Paul.Jones@fgmc.com

Cision View original content:http://www.prnewswire.com/news-releases/fgmc-relaunches-non-qm-products-maverick-solutions-301159946.html

SOURCE First Guaranty Mortgage Corporation

News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.