Announcement: Communications Related to COVID-19
LoanStream has created this At-A-Glance to easily review recent COVID-19 communications.
Announcement: Improved Pricing on Government Loans!
We’ve made huge improvements on our Government Loan Programs.
Announcement: Lock Policy Update
Please note that we have relaxed our temporary policy to allow locks once the loan has been submitted and the initial disclosures have been reviewed and fully acknowledged by the borrower. Feel free to contact your AE with any questions.
Announcement: Initial Disclosures acknowledgement required prior to Submittal Milestone
The following will be required at Loan Set-Up prior to having a new loan application submitted into Underwriting (Submittal Milestone) for a credit decision effective on Wednesday, 04/22/20.
Announcement: Non-QM Updates
Non-QM Guidelines have changed effective 4/21/20
Announcement: CalHFA
LoanStream Announces the following changes to CalHFA:
Effective with all new Submissions 4/17 and after, the maximum DTI is now set at 43%
Government FICOs Reduced
FHA / USDA down to 600 Credit Score
VA down to 620 Credit Score​
Announcement: FHA/USDA/VA Appraisal Guidance
Per recently announced guideline updates from HUD and VA, the following appraisal relief applies to all FHA/VA & USDA loans, unless otherwise notated, that close on or before May 17,2020.
Matrix Update: Chenoa Removes Conventional
Chenoa has temporarily suspended their Conventional program, however, Chenoa is still offering their FHA Edge and Rate Advantage DPA Programs.
Announcement: FNMA-FHLMC Product Guideline Updates
Per recently announced agency guideline updates, LoanStream Mortgage (LSM) announces the following guidelines.