Though COVID-19 dramatically altered the lending landscape, Reliant Bank’s (Reliant’s) Mortgage Services Division remained a steady and dependable lending partner – providing personalized mortgage solutions and Non-QM alternatives despite the pandemic-driven market turbulence. Now over $3 billion in assets, Reliant is a strong performing, publicly traded and federally regulated financial institution that offers a variety of loan products customized to fit borrower needs.
Reliant recently reintroduced their robust Non-QM specialty program as a substitute for borrowers who may not fit within the typical guidelines of Fannie Mae, Freddie Mac or Prime Jumbo. Non-QM loans frequently stand-in as a solid replacement option for self-employed borrowers, prime borrowers, near or non-prime borrowers or borrowers with sizable assets and prime credit.
“There are very few banks in this space,” said Rudy Orman, CMB, Director of Correspondent Sales and Product Development for the Mortgage Services division of Reliant Bank. “We take care of our clients regardless of the circumstances. From the pandemic’s beginning to its current state, Reliant continued to operate as an essential business. Our doors remained open and our mission remained the same – to provide clients with outstanding service, competitive pricing and customized programs that meet their financial needs. Our purpose is to ensure the right product for each customer every time, and we strive to make the process simple and successful for borrowers and loan originators alike.”
Reliant’s Non-QM program includes all property types, even non-warrantable condos and – subject to credit approval, debt-to-income ratios of up to 50 percent. The program fills a unique niche for self-employed borrowers who must verify income through bank statements or real estate investors who must qualify using a debt service coverage ratio. It also serves mortgage borrowers with isolated credit blemishes up to 1×30.
In addition to offering outstanding loan products, Reliant is a trusted partner to lending associates, offering exceptional tools, hands-on submission guidance and quick answers that keep lenders informed. Reliant’s iReli automated underwriting software sets the bank apart from competitors, as the tool allows lending partners to quickly and easily determine client loan eligibility. Offering immediate feedback of issues that prevent approval and instant loan submission following a successful pass, this always-on, 24/7 accessible tool is completely free and allows lending partners to take control of the pre-qualification process, close more loans and expand their client base.
About Reliant Bancorp, Inc. and Reliant Bank
Reliant Bancorp, Inc. (Nasdaq: RBNC) is a Brentwood, Tennessee-based financial holding company which, through its wholly-owned subsidiary Reliant Bank, operates banking centers in Cheatham, Davidson, Hamilton, Hickman, Maury, Montgomery, Robertson, Rutherford, Sumner, and Williamson counties and a specialized lending division in Knox County, Tennessee. An equal housing lender, Reliant Bank is a full-service commercial bank that offers a variety of deposit, lending, and mortgage products and services to business and consumer customers. For additional information, locations, and hours of operation, please visit www.reliantbank.com.
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