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UW Guideline Update

posted Nov 16, 2010, 12:08 AM by Massey Kouhssari   [ updated Feb 15, 2011, 11:24 AM ]

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 2nd home (Purchase or refinance transactions)
  • Finance up to Four (4) properties (include joint or total ownership)
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