VOE got better

Post date: Dec 09, 2010 2:23:48 AM

1.    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

2.    Maximum CLTV/HCLTV's on Conforming Fixed & ARM have been updated;

·        Purch & R/T Refinance O/O 1 unit - up to 95% CLTV/HCLTV (80% previously)

·        Purch & R/T Refinance 2nd Home - up to 90% CLTV/HCLTV (80% previously)

·        C/O Refinance O/O 1 unit - up to 85% CLTV/HCLTV (80% previously)