Michigan-based wholesale lender Homepoint is the latest firm to announce that it is making five, seven and 10-year adjustable-rate mortgages available to its network of mortgage broker partners, a move designed to generate purchase business.

Earlier in November, United Wholesale Mortgage also announced a roll out of prime jumbo ARM products for its broker channel. And it is likely that other wholesale lenders will follow suite.

Homepoint on Monday said that the SOFR ARMs will adjust every six months after the initial rate expires and will feature a 1% cap at each adjustment details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com