News Blog‎ > ‎

Matrix & Guideline Update

posted Dec 2, 2010, 3:37 PM by Massey Kouhssari   [ updated Feb 10, 2011, 10:43 AM ]

Please note that our Matrix and guideline have been updated as follow:

 

UW Guideline Updates and Clarifications:

 

  1. Gift Funds are allowed on O/O and 2nd home Purchase or refinance Transactions ONLY!!!

 

  1. We will finance up to Four (4) properties, including joint or total ownership.

 

·        EFFECTIVE DATE: Effective Immediately

 

 

 

Matrix Update:

 

VOE doc type Matrix is now aligned with Full Doc Matrix (Same Matrix for both Full doc and VOE doc type)

    • VOE overlays on FICO, LTV Restrictions, occupancy and Transaction type have been removed.
    • Attached Condos / PUDs are now eligible for Non-owner Occupied on VOE Doc Type.  This overlay has been removed.
    • VOE Doc types are available on Conforming Fixed ONLY.

 

EFFECTIVE DATE: Matrix Update is effective for loan submission on or after 12/02/2010.  The loans in current pipeline are not eligible.

Comments