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Titan Capital Solutions Now Buying ‘Scratch and Dent’ Loans

stock-charts-graphsTitan Capital Solutions (TCS), a wholly owned correspondent investment subsidiary of Denver-based Titan Lenders Corp., has recently begun to purchase certain investor-rejected loans, the company announced Thursday.

In addition to its already existing jumbo loan purchase program, TCS says it is now ready to buy up certain "scratch and dent" mortgages that have been rejected by the GSEs and private investors due to data, document, and compliance errors.

With agencies and investors becoming more selective in their purchase of loans, TCS says it sees an opportunity for growth with loans that fall just short of investor criteria but are otherwise sound.

"Historically, 'scratch and dent' referred to loans with egregious errors in underwriting or compliance," said Mary Kladde, CEO of TCS. "Now we're seeing the GSEs issue repurchase demands on performing loans due to minor flaws in origination, such as bad comparable selections. These performing problem loans provide a significant window of opportunity for TCS to expand."

Eligible performing problem loans include conventional, jumbo, agency-ineligible, and non-qualified mortgage loans, TCS said. Banks, lenders, or investors seeking to liquidate those loans from their portfolios can send an email to [email protected].

"Based on our operational success across the mortgage acquisitions market, we are confident TCS will provide a compelling and aggressive source of liquidity for these loans," Kladde said.

About Author: Tory Barringer

Tory Barringer began his journalism career in early 2011, working as a writer for the University of Texas at Arlington's student newspaper before joining the DS News team in 2012. In addition to contributing to DSNews.com, he is also the online editor for DS News' sister publication, MReport, which focuses on mortgage banking news.
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