WHOLESALE LENDING - AT-A-GLANCE PROGRAM GUIDE

WHOLESALE LENDING - AT-A-GLANCE PROGRAM GUIDE KEY UNDERWRITING GUIDELINES Broker- glance Key UW Guidelines Page 1 of 25 12/10/2018 MORTGAGE programs FRMs 15 and 30 Year Terms ARMs 3/1, 5/1, 7/1, 10/1 & 3/1, 5/1, 7/1, 10/1 Interest Only Refer to rate sheet for rates, pricing, LTVs & TLTVs for the above programs Following are Key requirements for Standard Doc/Guidelines Loans; refer to Account Rep. for others. For Portfolio Express Refi Refer To Separate Charts STANDARD DOC/STANDARD GUIDELINES APPRAISAL Refer to AT-A-GLANCE Key Appraisal Requirements. ASSETS TYPES Liquid Assets 100% of seasoned funds on deposit in the Borrower s checking, savings, money market or certificate of deposit accounts may be used to cover down payment, closing cost and/or reserve requirements. Any recent large deposits will need to be sourced. A large deposit is defined as a deposit that is inconsistent in the amount and/or timing (out of pattern deposit) when compared to recent (90-120 days) normal deposit patterns and verified income levels.

100% of seasoned funds on deposit in the Borrower’s checking, savings, money market or certificate of deposit accounts may be used to cover down payment, closing cost and/or

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