Announcement - Non-Agency Gold Product Updates

The following updates have been made to the Gold Non-Agency products and are effective as of new locks on or after 2/29/24:

Gold Full Doc & Alt Doc and Bank Statement

• Declining Markets only require a 5% LTV reduction
• Accessory Dwelling Units are now allowed
• Interest Party Contributions have increased to 6%
• Pre-payment Penalties section updated to reflect 2024 allowances in OH and PA
• Max LTVs increased for Warrantable (to 85%) and Non-Warrantable Condos (to 80%)
• LTV increased for loans with DTI > 45% to 80%
• Cashout allowed increased for LTVs > 65% to $1MM
• Minimum FICO for Investment Properties with LTV > 75% has been reduced to 700
• Maximum LTV for Asset Utilization or Asset Depletion increased to 80%

Gold Debt Service Coverage Ratio (DSCR)

• Declining Markets only require a 5% LTV reduction
• Accessory Dwelling Units are now allowed
• Interest Party Contributions have increased to 6%
• Purchase LTV for FICO’s 700+ increased to 80%
• Pre-payment Penalties section updated to reflect 2024 allowances in OH and PA
• Max LTV for 2–4-unit properties and Interest only options increased to 80%
• DSCR Ratio’s < 1.0 require a 720 FICO
• Cashout allowed increased for LTVs > 65% to $1MM

If you have any questions, please contact your Correspondent Specialist, Sales Executive, or contact us via the support line at 1-800-929-4744.

Thank you for your continued business.