Customer: Individual
Loan Amount: $508,000
Financial Challenge: A client with seven separate loans faced recent arrears within the past
six months and had a credit score of 25.
VMG’s Approach:
- Four non-conforming lenders declined the request due to (a) low credit score, (b) excessive debts for consolidation, and (c) unmet servicing requirements.
- The broker promptly supplied VMG with the necessary financial information for assessment.
- VMG issued an Indicative Approval on the same day, reducing the client’s monthly commitment by $525.
- This demonstrated VMG’s pragmatic lending approach, devoid of risk scoring leading to an improved financial position for the applicant.
Inquiries: For further inquiries or to explore VMG’s financial solutions, please feel free to reach out to your BDM.
