Announcement - Non-Agency Product Updates

Updates have been made to our Non-Agency products and are reflected below for reference.

• Gold Product updates are effective for all active and new locks.
• Silver Products the changes are effective for all new locks as of 4/19.

Gold & Silver Products | Pre-Payment Penalty Guide

• Updates across all products for 2024 in Pennsylvania

Gold - Debt Service Coverage Ratio (DSCR)

• Removal of HPML and High-Cost limitations

Silver – Prime Full & Alt Doc

• Added new mortgage history requirement – 0x60x24
• 2 appraisals are required for Loan Amounts > $2MM
• Cash out is now allowed for Asset Depletion/Qualifier Options
• Authorized user accounts are no longer considered towards tradeline requirements
• Clarifications for use of business assets

Silver – Sharp A+

• Minimum FICO is now 660
• 2 appraisals are required for Loan Amounts > $2MM
• Cash out is now allowed for Asset Depletion/Qualifier Options
• Authorized user accounts are no longer considered towards tradeline requirements
• Clarifications for use of business assets

• Minimum FICO is now 660
• 2 appraisals are required for Loan Amounts > $2MM
• Authorized user accounts are no longer considered towards tradeline requirements
• Clarifications for use of business assets

Silver – DSCR

• Added clarifications regarding FICO score being used with multiple applicants
• Authorized user accounts are no longer considered towards tradeline requirements
• Added confirmation First Time Investors may not also be First Time Homebuyers

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.