Due to current market conditions, temporary changes to our employment re-verification process are necessary to manage risk. The changes below apply to loans underwritten.
Self Employed – Full Doc
Rental Income Support
Borrowers who are currently or have been in forbearance, are acceptable in certain cases:
Forbearance-FHA, VA, USDA Loans
Temporary Appraisal Guidance-Conventional Loans
A Drive by Appraisal is acceptable if the loan fits within the below metrics:
Appraisal Guidance-FHA/VA/USDA Loans
Age of Documentation-Conventional Products
Age of Documentation-FHA/VA/USDA Products
COVID-19 Borrower Certification:
Non-QM lenders have been dropping interest rates rapidly this month as they seek an edge in meeting the demands of aggregators and bond investors, according to four lenders.