Excelerate Capital

🔺️ Happy New Year! 🔺️ ANNOUNCEMENT: Our lock desk will follow bond market guidance and will close at 10:00am PST on Friday, December 29th. REMINDER: Excelerate Capital will also be closed this upcoming Monday, January 1st in observance of New Year's Day. The lock desk will be closed and will reopen the next business day on Tuesday, January 2nd.

🔺️ Merry Christmas and Happy Holidays! 🔺️

A coalition of bipartisan lawmakers in the U.S. Senate on Wednesday introduced legislation targeting the practice of mortgage trigger leads. The bill, designated “S.3502,” is designed to “amend the Fair Credit Reporting Act (FCRA) to prevent consumer reporting agencies from furnishing consumer reports under certain circumstances,” according to the bill’s language. Sen. Jack Reed (D-R.I.) is the bill’s sponsor, with Sen. Bill Haggerty (R-Tenn.) serving as co-sponsor. A trigger lead is where consumer credit reporting agencies share with other lenders that a “hard credit report” was pulled for a mortgage application. This can lead to an onslaught of calls to that consumer vying for their lending business. The Mortgage Bankers Association (MBA) chimed in on the renewed effort, saying it is in support of the newly introduced bill. “MBA and its members have led the industry in advocating for legislative reforms to stop the unwanted harassment of consumers resulting from trigger lead abuses,” said Bob Broeksmit, president and CEO of MBA. “We commend Senators Jack Reed (D-RI) and Bill Hagerty (R-TN) for introducing the Homebuyers Privacy Protection Act to protect consumers while preserving the legitimate use of trigger leads in appropriately narrow circumstances during a real estate transaction.” Full Story: https://lnkd.in/gh6ED9e5 #mortgagenews #brokersarebetter #creditreporting #FCRA

🔺️ Welcome AE Academy Grads! 🔺️ We're proud to announce that a new group of Account Executive recruits graduated from our 4 week AE Academy at the end of October! Welcome to the team Allie Davis, Alec Sarrail, Kyle Heitner and Juvenal Rodriguez! This talented group has been on the floor and building Broker relationships for over a month now and we couldn't be more proud of their progress and efforts. They're already signing up Broker Partners and funding loans! We're confident that it won't be long before we start seeing their names on our Top Producers leaderboard! Welcome to the EC Team! #accountexecutives #nonqm #directlender

🔺️ No Fuss Bank Statement Qualifier 🔺️ With FICO Scores as low as 600 and LTV's as high as 90%, Excelerate Capital is your goto Lender, for Self-Employed Borrowers. 12 or 24 Month qualifying options using personal, or business bank statements, or BOTH (co-mingled). Utilize a CPA letter, a CPA-prepared P&L, or a flat 50% ratio for expenses. We'll even help you calculate income off bank statements prior to submission, so there are no surprises.  Built for Brokers! More lending options for your borrowers means you can design a program to suit your client's needs. Customization, aggressive programs, and superior service are how we separate ourselves from the competition. Contact your Account Executive or call us for our streamlined broker approval process TODAY to get up and running and start assisting your clients with their Alternative Lending needs. 🔺️EXCELERATE CAPITAL 19800 MacArthur Blvd, Suite 500 Irvine, CA 92612 (855) 735-0565 #nonqm #selfemployed #bankstatementloans #brokersarebetter

FICO is scrapping the tier-based pricing structure it announced in late 2022 and will raise the cost of mortgage credit scores for all lenders in the new year. Additionally, soft credit reports issued by the three bureaus will now cost as much as full reports, according to numerous sources. Mortgage lenders in FICO's third tier, the largest group, which already saw the price of credit scores balloon by 400% this year, will see an additional increase of about 25% to 40% in 2024. #mortgagenews #lendingtrends #FICO #mortgagebrokers

🔺️ 2024 Conforming loan Limits 🔺️ FHFA Announces 5.6% Increase in Conforming Loan Limits for 2024 Effective 12/2/2023: Excelerate Capital is aligning with the Federal Housing Finance Agency (“FHFA”) and their recent announcement on November 29, 2023, of the Conforming Loan Limits (“CLLs”) for 2024. We've included new loan limit charts for both Baseline Loan Limits as well as High-Cost Area Loan Limits. For more information, contact your Account Executive or go to: https://lnkd.in/g_JMawAN 🔺️EXCELERATE CAPITAL 19800 MacArthur Blvd, Suite 500 Irvine, CA 92612 (855) 735-0565 #conformingloanlimits #alternativelending #nonqmlending #bankstatementloans #DSCR #nonqm #investmentpropertyloans #propertyinvestment #loanofficer #mortgagebroker #realestate

🔺️ Expanded DSCR Guidelines 🔺️ As an innovator in #NonQMLending, EC features multiple #DSCR programs with some of the widest U/W guidelines in the industry to fit your Borrower's investment needs. From Residential Units up to 8, and short-term rentals, to DSCR Ratios down to ZERO, and even Mixed-Use and other unique property types, we have a program to fit your Borrowers' unique property and/or scenario. Built for Brokers! More lending options for your borrowers means you can design a program to suit your client's needs. Customization, aggressive programs and superior service are how we separate ourselves from the competition. Contact your Account Executive or call us for our streamlined broker approval process TODAY to get up and running and start assisting your clients with their #AlternativeLending needs. 🔺️EXCELERATE CAPITAL 19800 MacArthur Blvd, Suite 500 Irvine, CA 92612 (855) 735-0565 #brokersarebetter #nonqm #investmentproperty

🔺️ Thankful For Broker Partners 🔺️ As we’re celebrating Thanksgiving week, we want to take the time to express our thanks to all our #BrokerPartners. The relationships we’ve built with all of you form the foundation which our business is built on. Some of these relationships go back years and years. Together, we’ve weathered some of the toughest times our industry has ever seen. Your trust in our Team and our operation is invaluable and we want to express our gratitude for your continued partnership. Thank you for your business! Wishing you and yours a joyful Thanksgiving week filled with appreciation! ***Also, please be advised that Excelerate Capital Lock Desk will follow bond market guidance and will close early at 10:00AM Pacific Standard time on Wednesday, November 22nd.*** We will be closed Thursday November 23rd and Friday, November 24th in observance of Thanksgiving. Please plan fundings and locks accordingly as it will be a very short week. #thanksgiving2023 #thankful #gratitude #nonqmlending

🔺️ Post-Tradeshow Huddle 🔺️ Connecting with new Broker Partners and strengthening existing realtionships is why we exhbit at many industry #tradeshows. After California Mortgage Expo - Pasadena last week, we had a great breakout session with some of our favorite Brokers. While other lenders were celebrating in the bar or headed back to their respective offices, we were running scenarios and sharing our #NonQM product knowledge. While most businesses operate 9-5, the EC Team is hard at work 24/7 to make sure we deliver the most value we can to Broker clients. #brokersarebetter #nonqmlending #tradeshowsuccess -------------------------------------------------------- Excelerate Capital is a registered DBA of Castle Mortgage Corporation; NMLS # 61382; Equal Housing Lender. For more licensing information, please visit https://lnkd.in/eAkeBnMz. 19800 MacArthur Blvd, Suite 500, Irvine, CA. 92612