Advanced Search

Volume 2014 - Number 3

January 31, 2014

Lender Offering Unique Rent-to-Own Program

Cove Financial is targeting borrowers who can’t qualify for agency mortgages and offering them a unique rent-to-own option. The lender’s Mortgage Alternative Program involves a process that looks a lot like the purchase-mortgage process but instead gives a borrower time to rebuild credit before purchasing a home. “It’s for people who have a downpayment but don’t currently qualify for a mortgage,” Patrick Flanagan, CEO of Cove Financial, said of the MAP. A borrower working with Cove goes through a ...

Subscribers to Inside Nonconforming Markets have full access to all its stories and data online. Visitors may become subscribers for full access or may purchase individual articles and data.

Subscriber Log In

If you are a current subscriber or already purchased this article, please login below.

Forgot your password?

Already subscribe but haven't registered for all the benefits of the website?

Subscribe

This biweekly is the leading source of news and data on non-agency residential mortgages.

 

Pay-Per-View

You can purchase this article for $55.00 without subscribing and always have access to it on insidemortgagefinance.com.

Pay Per View

Please contact Customer Service if you need assistance: 1-800-570-5744

Poll

HUD has announced a 25 basis point cut in FHA premiums, which is slated to take effect in late January. Is your lending shop for or against a cut in FHA premiums?

For. It should help lending volumes.
Against. The private MI sector should take on this risk, not the government.
Too early to say.
I believe the new White House may scuttle the idea so it doesn’t matter.

vote to see results