Product Updates In Case You Missed It
It is going to be a busy Summer with a booming purchase market. Inventory is still tight but borrowers are out there wanting a quick close. As you know, guidelines are tighter to qualify under Fannie Mae and Freddie Mac making non-QM an essential tool to offer.
Our most recent updates make our non-QM products even more competitive and flexible so when Agency won’t work we can quickly pivot to another loan product with no delays.
Product Update Highlights:
- Lowered rates for Bank Statement loans
- Changed seasoning requirement to TWO years out of foreclosure, bankruptcy, short sale, or deed-in-lieu for Bank Statement loans
- NO DSCR with 700 FICO and LTV of 75% or under for Investor Cash Flow loans
- Full doc Portfolio Select now goes to 90% LTV and ONE year out of foreclosure.
- Second home full doc loans now go to 85% LTV