Bank of Internet USA, a wholly-owned subsidiary of BofI Holding, has launched a Jumbo and Super Jumbo portfolio loan program in California designed for the affluent, sophisticated home mortgage borrowers.
BofI plans to portfolio the jumbo home mortgage loans that it originates through this new program.
BofI claimed that its Jumbo and Super Jumbo program will provide clients with more flexibility and more features. For example, BofI will accept pledged assets, will vest in entities, and freedom to make common sense underwriting decisions.
Jerry Konzen, previously with Thornburg Mortgage, was recruited by Bank of Internet to spearhead this new program.
Mr Konzen said: “We offer a concierge level of service to brokers, correspondents and their customers. We provide customers with highly customized portfolio financing solutions that exceed their expectations.”