Retail UW guidelines have been updated.   Please keep the attached guidelines for your records.

Conforming Fixed

• Minimum FICO for LTV up to 95% with MI:            660 (680 previously)
• Max DTI on Pur & R/T Refinance with FICO 740: 45% DTI (41% previously)

Conforming ARM

• Margin:           1.75
• Caps: 3/1 & 3/1 IO (2/2/6), 5/1 (2/2/5)

                        5/1 IO, 7/1, 7/1 IO, 10/1, 10/1 IO (5/2/5)

Conforming High Balance

• Min FICO for LTV up to 90% with MI:          720 (740 previously)

Conforming Fixed, ARM, High Balance

• Gift Funds allowed on O/O and 2^nd home (Purchase or refinance transactions)
• Finance up to Four (4) properties (include joint or total ownership)