#dscr-loans

#dscr-loans

Through UHM Platinum, investors will have access to products that include bank-statement loans and debt-service-coverage ratio (DSCR) loans as well as qualified mortgage options such as jumbo and non-owner-occupied loans. UHM said it plans to continue expanding its non-QM product suite in the coming months to meet changing market demand. Union Home has enjoyed significant growth to our non-QM business, CEO Bill Cosgrove said in a statement.

The group reportedly purchased more than 700 homes largely in majority-Black neighborhoods at inflated prices financed by debt service coverage ratio (DSCR) loans. Investors are accused of taking out $100 million in DSCR loans from dozens of private lenders using projected rental income as collateral. According to the report, many transactions were recorded for prices far above each property's previous sale value or public appraisal estimate.