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News Briefs

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RPM Mortgage announced last week that it is offering jumbos with balances of up to $2.5 million for no-limit cash-out refinances or home purchase. Fully amortized and interest-only payment options are available. The lender said it will hold the loans in portfolio. “Between extremely low interest rates and smart prices for homes, either on the move-up market or creating liquidity for investment purposes, this product has the ability to serve both types of borrowers,” said Rob Hirt, CEO of RPM Mortgage. “This exclusive RPM product was eleven months in the making and is our contribution toward helping the real estate market to get back on its feet.” [Includes three briefs]
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