Matrix & Guideline Update
Post date: Dec 02, 2010 11:37:33 PM
Please note that our Matrix and guideline have been updated as follow:
UW Guideline Updates and Clarifications:
Gift Funds are allowed on O/O and 2nd home Purchase or refinance Transactions ONLY!!!
We will finance up to Four (4) properties, including joint or total ownership.
· EFFECTIVE DATE: Effective Immediately
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.