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Champions Funding, a non-QM wholesale lender, has announced a new loan product that allows FICO investors to leverage the assets of high-credit loan products.
The commercial loan, called the Accelerator X, is designed for borrowers looking to purchase or expand their investment portfolio, Champions said in a presentation.
Accelerator X is a Community Development Finance Institute (CDFI) accredited by the Treasury Department, which allows companies to provide transitional financial services to low-income communities and those who may not have access to cash.
Accelerator X is now available to all loan approval participants. Natalie Verrette, President and COO of Champions Funding, said: These CDFI-certified products also contribute to our broader mission to reach low-income borrowers in America’s poorest communities. ,
Founded in 2021, the Arizona lender is led by Evan Stone, the chief commercial officer of Community Savings, and Patty Arvillo, co-founder and president of New American Funding.
We are proud to bring together a team of professionally supported and smart mortgage professionals to provide many homebuyers a unique opportunity to achieve their dream of home ownership through debt reduction and home ownership. It’s a credit issue,” Stone said.
Reference Source: MPA
