Transcription of Section 2.01 - Agency Loan Programs
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Section 2.01 - Agency Loan Programs
**Note: As of April 24, 2020, SunTrust now Truist applied temporary Agency and Government product restrictions based on occupancy type, transaction type, number of units, minimum credit score, maximum LTVs, and maximum DTI ratios. Refer to Bulletin COR20-015. Section June 12, 2020 Agency loan Programs Page 1 of 649 Correspondent Seller Guide Section - Agency loan Programs In This Product Description This product description contains the following topics. Overview .. 6 Product Summary .. 6 Related Bulletins .. 7 loan Terms .. 8 Minimum loan Amount .. 8 Maximum loan Amount .. 8 Agency Maximum LTV/TLTV/ HTLTV Ratio Requirements .. 9 Agency Plus Maximum LTV/TLTV/ HTLTV Ratio Requirements .. 12 ARM Disclosures .. 15 ARM Parameters .. 15 Assumability Provisions .. 17 Interest Only Parameters .. 17 Multiple Financed Properties for the Same Borrower .. 17 Ability-to-Repay and Qualified Mortgage.
Agency Loan Programs Page 6 of 687 Correspondent Seller Guide . Overview . 0B. Product Summary . This product description is designed to provide information on Truist’s standard Agency, Agency Plus, and Agency Plus Select loan programs. Standard Agency loan programs are offered through traditional underwriting, Fannie Mae’s Desktop
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