This document provides loan limit and LTV guidelines for different loan programs, including:
- Maximum loan amounts and LTVs for full, fast and lite income documentation for owner-occupied properties depend on credit grade and credit score. Loan limits range from $400,000 to $1,000,000.
- Guidelines for stated income documentation loans include lower loan amounts and LTVs than full documentation loans, with loan limits ranging from $250,000 to $650,000 depending on credit factors.
- Non-owner occupied loans have lower amounts and LTVs compared to owner-occupied, with loan limits between $300,000 and $500,000 based on credit grade and history.
Key benchmark indices declined last week as continued concerns about Greece's debt crisis weighed on sentiment in global markets. A sharp setback in Chinese stock market also spoiled sentiment. A three-week selloff in
China's stock market has darkened the outlook for the world's second-largest economy. The S&P BSE Sensex fell below the psychological 28,000 mark.
Read more here- http://www.pinnaclefinancial.in
FSAE-A Business Presentation - Redback Racing 2017Albert Chau
Formula SAE (F-SAE) is a student competition where students design and build a race car. Part of that competition is pitching the race car as part of a wider business to potential investors. I presented this at F-SAE Australasia 2017 for UNSW Redback Racing. Despite only having 2 weeks to prepare a presentation where other teams have an entire year, Redback Racing placed 4th in the presentation event, which is the best result Redback has had in 6 years.
Daily Equity News Updates by TheEquicom 07-Feb-14snehastocktips
To make big profit in trading is not so easy if you are thinking like this so don’t worry we are here to help you by providing accurate and profitable Equity trading tips. We provide recommendation on stock, commodity, nifty, option and future trading market.
YOUR BUSINESS IS YOUR PROFITABILITY IN CONCEPT HOTEL FUTURIST. SEE YOUR FUTURE AS YOUR PRESENT AND INVEST IN CREATIVITY THAT MAKES SENSE AND REALITY FOR BOTH GUESTS, MANAGEMENT AND STAFF. A NEW VISION AT SHORT TERM, MID TERM OR LONG TERM QUALITY AND TECHNOLOGY HOSPITALITY INDUSTRY.
Key benchmark indices declined last week as continued concerns about Greece's debt crisis weighed on sentiment in global markets. A sharp setback in Chinese stock market also spoiled sentiment. A three-week selloff in
China's stock market has darkened the outlook for the world's second-largest economy. The S&P BSE Sensex fell below the psychological 28,000 mark.
Read more here- http://www.pinnaclefinancial.in
FSAE-A Business Presentation - Redback Racing 2017Albert Chau
Formula SAE (F-SAE) is a student competition where students design and build a race car. Part of that competition is pitching the race car as part of a wider business to potential investors. I presented this at F-SAE Australasia 2017 for UNSW Redback Racing. Despite only having 2 weeks to prepare a presentation where other teams have an entire year, Redback Racing placed 4th in the presentation event, which is the best result Redback has had in 6 years.
Daily Equity News Updates by TheEquicom 07-Feb-14snehastocktips
To make big profit in trading is not so easy if you are thinking like this so don’t worry we are here to help you by providing accurate and profitable Equity trading tips. We provide recommendation on stock, commodity, nifty, option and future trading market.
YOUR BUSINESS IS YOUR PROFITABILITY IN CONCEPT HOTEL FUTURIST. SEE YOUR FUTURE AS YOUR PRESENT AND INVEST IN CREATIVITY THAT MAKES SENSE AND REALITY FOR BOTH GUESTS, MANAGEMENT AND STAFF. A NEW VISION AT SHORT TERM, MID TERM OR LONG TERM QUALITY AND TECHNOLOGY HOSPITALITY INDUSTRY.
YOUR BUSINESS IS YOUR PROFITABILITY IN CONCEPT HOTEL FUTURIST. SEE YOUR FUTURE AS YOUR PRESENT AND INVEST IN CREATIVITY THAT MAKES SENSE AND REALITY FOR BOTH GUESTS, MANAGEMENT AND STAFF. A NEW VISION AT SHORT TERM, MID TERM OR LONG TERM QUALITY AND TECHNOLOGY HOSPITALITY INDUSTRY.
YOUR BUSINESS IS YOUR PROFITABILITY IN CONCEPT HOTEL FUTURIST. SEE YOUR FUTURE AS YOUR PRESENT AND INVEST IN CREATIVITY THAT MAKES SENSE AND REALITY FOR BOTH GUESTS, MANAGEMENT AND STAFF. A NEW VISION AT SHORT TERM, MID TERM OR LONG TERM QUALITY AND TECHNOLOGY HOSPITALITY INDUSTRY.
YOUR BUSINESS IS YOUR PROFITABILITY IN CONCEPT HOTEL FUTURIST. SEE YOUR FUTURE AS YOUR PRESENT AND INVEST IN CREATIVITY THAT MAKES SENSE AND REALITY FOR BOTH GUESTS, MANAGEMENT AND STAFF. A NEW VISION AT SHORT TERM, MID TERM OR LONG TERM QUALITY AND TECHNOLOGY HOSPITALITY INDUSTRY.
YOUR BUSINESS IS YOUR PROFITABILITY IN CONCEPT HOTEL FUTURIST. SEE YOUR FUTURE AS YOUR PRESENT AND INVEST IN CREATIVITY THAT MAKES SENSE AND REALITY FOR BOTH GUESTS, MANAGEMENT AND STAFF. A NEW VISION AT SHORT TERM, MID TERM OR LONG TERM QUALITY AND TECHNOLOGY HOSPITALITY INDUSTRY.
YOUR BUSINESS IS YOUR PROFITABILITY IN CONCEPT HOTEL FUTURIST. SEE YOUR FUTURE AS YOUR PRESENT AND INVEST IN CREATIVITY THAT MAKES SENSE AND REALITY FOR BOTH GUESTS, MANAGEMENT AND STAFF. A NEW VISION AT SHORT TERM, MID TERM OR LONG TERM QUALITY AND TECHNOLOGY HOSPITALITY INDUSTRY.
YOUR BUSINESS IS YOUR PROFITABILITY IN CONCEPT HOTEL FUTURIST. SEE YOUR FUTURE AS YOUR PRESENT AND INVEST IN CREATIVITY THAT MAKES SENSE AND REALITY FOR BOTH GUESTS, MANAGEMENT AND STAFF. A NEW VISION AT SHORT TERM, MID TERM OR LONG TERM QUALITY AND TECHNOLOGY HOSPITALITY INDUSTRY.
Loan-Level Price Adjustment (LLPA) Matrix
This document provides the LLPAs applicable to loans delivered to Fannie. LLPAs are assessed based upon certain eligibility or other loan features, such as credit score, loan purpose, occupancy, number of units, product type, etc. Special feature codes (SFCs) that are required when delivering loans with these features are listed next to the applicable LLPAs. Not all loans will be eligible for the features described in this Matrix and unless otherwise noted, FHA, VA, Rural Development (RD) Section 502 Mortgages, HUD Section 184 Mortgages, and matured balloon mortgages (refinanced or modified, per Servicing Guide requirements) redelivered as fixed-rate mortgages (FRMs) are excluded from these LLPAs. This Matrix is incorporated by reference into the Selling Guide, and the related Selling Guide provision or Selling Guide announcement governs if there is an inconsistency. Refer to the Selling Guide, Eligibility Matrix, and your contracts with Fannie Mae to determine loan eligibility.
Countrywide Option Arm Loans (Negative Amortization) July 26 2006Bitsytask
Countrywide Option Arm loans (Negative Amortization) July 26 2006.
These loans could qualify to 90% loan-to-value and allowed a teaser rate of as low as 1% payment, which would negatively amortize up to 120% of the value of the property. The borrower would make the 1% payment, and go further into debt. Countrywide likely sold these loans as derivatives before having to deal with the inevitable foreclosure.
CIA Declassified Operation Ajax Document (PDF File). This document details the CIA/MI5'a overthrow of Iran's president, Mohammad Mosaddegh, on behalf of British Petroleum (BP).
CIA Declassified Operation Ajax Document (PDF File). This document details the CIA/MI5'a overthrow of Iran's president, Mohammad Mosaddegh, on behalf of British Petroleum (BP).
CIA Declassified Operation Ajax Document (PDF File). This document details the CIA/MI5'a overthrow of Iran's president, Mohammad Mosaddegh, on behalf of British Petroleum (BP).
CIA Declassified Operation Ajax Document (PDF File). This document details the CIA/MI5'a overthrow of Iran's president, Mohammad Mosaddegh, on behalf of British Petroleum (BP).
CIA Declassified Operation Ajax Document (PDF File). This document details the CIA/MI5'a overthrow of Iran's president, Mohammad Mosaddegh, on behalf of British Petroleum (BP).
CIA Declassified Operation Ajax Document (PDF File). This document details the CIA/MI5'a overthrow of Iran's president, Mohammad Mosaddegh, on behalf of British Petroleum (BP).
CIA Declassified Operation Ajax Document (PDF File). This document details the CIA/MI5'a overthrow of Iran's president, Mohammad Mosaddegh, on behalf of British Petroleum (BP).
Operation Ajax Declassified PDF Appendix EBitsytask
CIA Declassified Operation Ajax Document (PDF File). This document details the CIA/MI5'a overthrow of Iran's president, Mohammad Mosaddegh, on behalf of British Petroleum (BP).
Operation Ajax Declassified PDF Appendix DBitsytask
CIA Declassified Operation Ajax Document (PDF File). This document details the CIA/MI5'a overthrow of Iran's president, Mohammad Mosaddegh, on behalf of British Petroleum (BP).
Operation Ajax Declassified PDF Appendix BBitsytask
CIA Declassified Operation Ajax Document (PDF File). This document details the CIA/MI5'a overthrow of Iran's president, Mohammad Mosaddegh, on behalf of British Petroleum (BP).
CIA Declassified Operation Ajax Document (PDF File). This document details the CIA/MI5'a overthrow of Iran's president, Mohammad Mosaddegh, on behalf of British Petroleum (BP).
Basic 'how-to' guide for basic and advanced page speed optimization. Page speed optimization resides in the conversion rate optimization family and is one of the most overlooked items in the web development spectrum. For over a decade, countless organizations have quantified that faster websites result in more conversions, leads & revenue. %3Cb>rawr</b><
Referans Bahcesehir which is being constructed, in the center of the most regional destination as Bahçeşehir, shines out with its central location and unique landscape including social facilities such as a fitness center, sauna, sports facilities, children’s playground and recreational areas.
Not only drawing attention for immediate surroundings including commercial centers and private schools but also providing the easily accessible location with closeness to Tem Highway and connection roads, ongoing construction of 3rd Bridge Connection roads and Metro Projects
Bahcesehir is a rising value in the great city of Istanbul… Located at a new transportation junction in the northwest of the City… Located at such a spot that the access roads for the 3rd bridge and for the 3rd Airport will reach the region in 2016. The Marmaray and the Subway will extend all the way to Referans Bahcesehir respectively in 2018 and 2019.
465 flats and 34 stores are designed with an outstanding approach and arranged with a unique perspective offering the following options: 1 plus 1, 2 plus 1, 3 plus 1, 3.5 plus 1, 4 plus 1, and 4.5 plus 1. It is planned so as to safeguard you and your loved ones based upon a modern, technological safety approach. As you experience the joy and luxury here, you will be content and feet at ease.
It is worth seeing both inside and outside with heart-warming cafes, tasty restaurants and elegant stores… And it is ready to offer a vivacious social life with a warm and cozy space design.
A folding swimming pool and indoor swimming pools, playgrounds, Turkish bath, sauna… It has them all. Everything you need for your well-being and for having a pleasant time will be at your service. You simply need to align the rhythm of life with the rhythm of Referans Bahcesehir.
https://listingturkey.com/property/referans-bahcesehir/
One FNG by Group 108 Sector 142 Noida Construction UpdateOne FNG
One FNG by Group 108 is launching a new commercial project in Sector 142 Noida. Office space and high street retail shops on the FNG and Noida Expressway. For more information visit the website https://www.onefng.com/
Presentation to Windust Meadows HOA Board of Directors June 4, 2024: Focus o...Joseph Lewis Aguirre
Presentation to Windust Meadows HOA Board of Directors June 4, 2024: Focus on Public Safety as Job #1, Engagement, Wealth of HOA, Branding, Communication, Culture, Civic Responsibility
Simpolo Tiles & Bathware
Tile ho,
toh Simpolo.
Since the first steps were taken in 1977, Simpolo Ceramics has carved its niche as a consistently growing organisation with unparalleled innovation and passion rooted in simplicity.
We endure gratification for every experience we offer, created to share something meaningful. It may not resonate with the majority, but that makes us a class apart. If only a handful were to understand the purpose of our existence, we would be proud to have found our believers. Rather, people with whom we can share our beliefs.
VISUALIZER
Design your space in your style with our very own Visualizer. Now, you can choose the tiles of your liking from our wide selection and see how they would look in a space. Select the tile from the multiple options and the visualiser will replace the surfaces in the image with the selected tiles. This way, instead of just your imagination, you can choose the tiles for your place by getting an actual picture of how they would look in a space. So, design your space the way you desire digitally and implement it in real life to get the best results!
You can also share this visualiser with others to help them design their space.
Committed to delighting customers with world-class ceramic products and services. Make Simpolo synonymous with the best quality and set new benchmarks of excellence for all stakeholders. Pursue best business practices with utmost integrity to make Simpolo an exciting organisation to work with, for vendors, channel partners, investors and employees alike.
Gain worldwide recognition in the field of ceramic building products through Research and Innovation and bring an enhanced lifestyle within reach for every household.
The SVN® organization shares a portion of their new weekly listings via their SVN Live® Weekly Property Broadcast. Visit https://svn.com/svn-live/ if you would like to attend our weekly call, which we open up to the brokerage community.
Brigade Insignia offers meticulously designed apartments with modern architecture and premium finishes. The project features spacious 3,3.5,4 and 5 BHK units, each thoughtfully planned to provide maximum comfort, natural light, and ventilation.
https://www.newprojectbangalore.com/brigade-insignia-yelahanka-bangalore.html
Investing In The US As A Canadian… And How To Do It RIGHT!! (feat. Erwin Szet...Volition Properties
=== Investing In The US As A Canadian… And How To Do It RIGHT!! (feat. Erwin Szeto) ===
Ever been curious about Real Estate Investing in the US?? At Volition, for the past 14 years, we have been focused on helping investors invest in over $250M of real estate and generate $100M of wealth in the Toronto market, but we are always open to learning more about other business models and learning from other investors.
The US has always been an intriguing market to invest in. But the US is a big place… if you’re interested in investing in the US, you probably have a lot of questions, like:
☑️ Specifically WHERE should you invest?
☑️ What are the best markets to invest in and why?
☑️ How much are property prices there?
☑️ What are the returns like?
☑️ What is cashflow like?
☑️ Compared to investing in Toronto or other cities in Ontario, what are the benefits / tradeoffs?
☑️ What ownership structure should I use?
☑️ What are the tax implications?
☑️ Can I get financing?
☑️ What are tenants like?
Enter Erwin Szeto, a longtime friend of Volition. Since 2005, Erwin Szeto and his team have navigated the challenging landscape of being landlords in Ontario. Now, they are shifting their focus and guiding their clients' investments toward the more landlord-friendly environment of the USA. This decision comes after assisting Canadian clients in transacting over $440,000,000 in income properties. Faced with issues like affordability constraints, tenant-friendly laws, rent control, and rental licensing in Canada, Erwin sees a clear opportunity in the U.S. Here, there is a significant influx of investments leading to the creation of high-paying manufacturing jobs. Erwin and his clients are poised to capitalize on these opportunities where landlord rights are stronger and there is no rent control.
To facilitate this transition, Erwin has partnered with and become a client of SHARE, a one-stop-shop U.S. Asset Manager. Founded by Canadians for Canadians, SHARE enables as passive an ownership experience as possible for landlords in the U.S., while still maintaining direct, 100% ownership.
Erwin is “Making Real Estate Investing Great Again”!!
Website: https://www.infinitywealth.ca/
Facebook: https://www.facebook.com/iwinrealestate and https://www.facebook.com/ErwinSzetoOfficial
Podcast: https://www.truthaboutrealestateinvesting.ca/
Instagram: https://www.instagram.com/iwinrealestate/ and https://www.instagram.com/erwinszeto/
Omaxe Sports City Dwarka stands out as a premier residential and recreational destination, offering a blend of luxury and sports-centric living. Located in the thriving area of Dwarka, this project by Omaxe Limited is designed to cater to modern lifestyle needs while promoting a healthy, active living environment.
Keep Your Home Naturally Cool and Warm Out Change in Seasons
Vinra Construction is a private limited company registered under the ROC. The management has an experience of over 15 years of understanding the needs and delivering apt solutions to the end users We are providing turnkey solutions in construction fields. like Construction, Interior Designing Facility Management, Plantation Management, etc..
Vinra Construction Tech Enabled Company for Eco-Friendly Home Construction
Contact With Vinra for a Greener Future >>> Call us @ 888 4898 765
Scanning tenants in NYC requires a thorough and compliant approach to ensure you find reliable renters. For a positive rental experience, consider hiring a property management service. Belgium Management LLC specializes in NYC rental property management and tenant relationship management. We prioritize tenant satisfaction, making us a trusted name in New York property management. Our dedicated team ensures tenants feel valued and supported throughout their lease.
Elegant Evergreen Homes - Luxury Apartments Redefining Comfort in Yelahanka, ...JagadishKR1
Experience unmatched luxury at Elegant Evergreen Homes, offering exquisite 2, 3, and 4 BHK apartments in the serene locality of Yelahanka, Bangalore. These meticulously crafted homes blend modern design with timeless elegance, providing a harmonious living environment. Enjoy top-tier amenities and a prime location, making Elegant Evergreen Homes the ideal choice for discerning homeowners.
Sense Levent Kagithane Catalog - Listing TurkeyListing Turkey
Sense Levent offers a luxurious living experience in the heart of Istanbul’s vibrant Levent district.
This cutting-edge development seamlessly integrates modern design with natural elements, featuring live evergreen plants maintained by an advanced irrigation system, ensuring lush greenery year-round.
The building’s elegant ceramic balconies are both stylish and durable, enhancing the overall aesthetic and functionality. Residents can enjoy the 700m Sky Lounge, which provides breathtaking views of Istanbul and a perfect space to relax and unwind.
Sense Levent promotes a healthy and active lifestyle with a full gym, swimming pool, sauna, and steam room, all available in the building. The interiors are crafted with high-quality materials, ensuring a luxurious and inviting living space.
Designed with young professionals in mind, Sense Levent features 1+1 and 2+1 units with smart floor plans and balconies. The project promises high investment returns, with an expected annual return of 6.5-7%, significantly above Istanbul’s average ROI.
Located in the rapidly growing and highly desirable Levent area, the development benefits from ongoing urban regeneration projects. Its prime location offers proximity to shopping malls, municipal buildings, universities, and public transportation, adding immense value to your investment.
Early investors can take advantage of discounted units during the construction phase, with an expected capital appreciation of +45% USD upon completion. Property Turkey provides comprehensive rental management services, ensuring a seamless and profitable investment experience.
Additionally, robust legal support and significant tax advantages are available through Property Turkey’s licensed Real Estate Investment Fund. Levent is a dynamic urban hub, ideal for young professionals with its numerous corporate headquarters and shopping malls.
Sense Levent is more than just a residence; it’s a place where dreams and opportunities come to life. Contact us today to secure your place in this exclusive development and experience the best of Istanbul living. Sense Levent: Sense the Opportunity. Live the Dream.
https://listingturkey.com/property/sense-levent/
Lixin Azarmehr, a Los Angeles-based real estate development trailblazer, co-founded JL Real Estate Development (JL RED) in 2015 and serves as its CEO. Her expertise has propelled the firm to specialize in luxury residential and mixed-use commercial projects, with a portfolio that features upscale retail spaces and sophisticated care facilities.
500 acres of brilliance await you here at Riverview City which offers modern living, effortless convenience, and a beautiful natural setting. It is a mega township by Magarpatta City in Loni Kalbhor, Pune. Enjoy easy access to work, schools, and fun while experiencing a perfect work-life balance.
Visit - magarpattacity.developerprojects.in
BricknBolt Understanding Load-Bearing Walls and Their Structural Support in H...BrickAndBolt
Load-bearing walls are the backbone of any home construction, providing crucial structural support that carries the weight of the house above. For companies like Brick and Bolt Mysore and Bricknbolt Faridabad, understanding and properly implementing these elements are key to constructing safe and durable buildings.
Torun Center Residences Istanbul - Listing TurkeyListing Turkey
THERE IS LIFE IN ITS CENTER!
The most energetic spot of the city that will add utterly different pleasures to your life, with a park that will make Istanbul breathe, delighting indoor and outdoor bistros, cafes, restaurants, the brand-new Food Hall concept, where dozens of unique tastes are served together, market area, cinema, theater, fitness club, SPA and event venue...
All the pleasures that will enrich your lives are awaiting you on the most beautiful side of the city, at Torun Center Residences. In Mecidiyeköy, where the heart of Istanbul beats, business, life and entertainment opportunities are located at the exact center, at Torun Center, the most beautiful side of the city.
Penthouse apartments and different styles of flats from 1 + 1 to 4 + 1, from 100 to 425 square meters in a 42-story residence tower, have been designed for those who want to live in the center of magnificence. Torun Center is the redefinition of a better life with specially landscaped floor gardens, apartment options with private balconies, and automatic glass systems equipped with Trickle Ventilation that offers clean air comfort.
Business and life in the same place
Excellent service
Torun Center has many delightful details, from a swimming pool to sunbathing and resting terrace. With 24/7 concierge services, 24/7 security, valet, technical service, closed-circuit camera system (CCTV), central heating and cooling system, it makes your life easier.
Delightful details
The two-story Torun Center Lounge, with its indoor and outdoor seating areas, children's playroom, private dining and TV lounge, promises unforgettable memories to you and your loved ones with its unique Istanbul view.
Neighboring to the most pleasant square of Istanbul
A few steps from the Torun Center Residences, you can reach the city's most modern city square and open the doors of a quality city life. Torun Center Residences brings together on the same project the long-awaited city life for Istanbul and gourmet restaurants, cafes, gym and SPA, and state-of-the-art cinema and Artı Stage, hosting the most famous plays of the season.
Located at the intersection of alternative public transportation options such as the metro and Metrobus, Torun Center comes to the fore as the most accessible office for both sides of Istanbul. With a central location and rich transportation lines, Torun Center offices make life easier for employees and increase productivity.
The KA Housing - Catalogue - Listing TurkeyListing Turkey
Welcome to KA Housing, a distinguished real estate development nestled in the heart of Eyüpsultan, one of Istanbul’s most promising districts.
Just 10 minutes from the bustling city center, Eyüpsultan offers a serene escape with the convenience of urban living. The direct metro line ensures seamless connectivity to all parts of Istanbul, making it an ideal location for residents who seek both tranquility and vibrancy.
KA Housing boasts unparalleled accessibility, with proximity to Istanbul Airport only 30 minutes away, facilitating easy international travel. Effortless city access is guaranteed by direct metro and transportation links to Istanbul’s cultural and commercial hubs. Quick access to key metro lines connects you to every corner of the city within minutes, making commuting and exploring the city hassle-free.
The development offers luxurious living spaces with a range of unit layouts from 1+1 to 4+1, designed with meticulous attention to detail. Each unit features balconies or terraces, providing stunning vistas of Istanbul and enhancing the living experience. High-quality materials and superior craftsmanship ensure durability and elegance, while sound-proof insulation and high ceilings (2.95 m) offer comfort and sophistication.
Residents of KA Housing enjoy exclusive on-site amenities, including a state-of-the-art gym, outdoor swimming pool, yoga area, and walking paths. Entertainment options abound with a private cinema, children’s playground, and a variety of dining options including a café and restaurant. Security and convenience are paramount with 24/7 security, a dedicated carpark garage, and an IP intercom system.
KA Housing represents a prime investment opportunity with limited availability in a high-demand area, ensuring enduring value and potential for lucrative returns. Homes in this development provide exceptional value without compromising on quality, offering affordable luxury for discerning buyers. The construction is of the highest quality, built to the latest seismic and disaster resistance standards, ensuring safety and resilience.
The community and surroundings of KA Housing are enriched by close proximity to prestigious universities such as Haliç University, Bilgi University, and Istanbul Ticaret University, making it an ideal location for students and academics. The development is adjacent to the Alibeyköy stream leading into the Halic waters, offering serene natural escapes amidst lush greenery. Residents can enjoy the cultural richness of the area, surrounded by historical and cultural landmarks that blend leisure, nature, and culture seamlessly.
https://listingturkey.com/property/the-ka-housing/
Subprime Underwriting Matrix, 100% LTV down to 580 FICO
1. S500 Loan Limits
This is summary information only. Refer to the Client Guide for complete and definitive underwriting guidelines.
Maximum Loan Amounts & LTVs for Full, Fast and Lite Income Documentation (Owner Occupied)
Credit Grade (12 month LTV
Housing History) Credit Score <=65% 65.01 to 70% 70.01 to 75% 75.01 to 80% 80.01 to 85% 85.01 to 90% 90.01 to 95% 95.01 to 100% 80/20 Combo 1st
/2nd
700+ 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 800,000 700,000 700,000 750,000/187,500
640-699 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 800,000 700,000 650,000 750,000/187,500
620-639 1,000,000 1,000,000 1,000,000 900,000 850,000 800,000 650,000 600,000 750,000/187,500
600-619 1,000,000 1,000,000 1,000,000 900,000 800,000 800,000 600,000 600,000 750,000/187,500
580-599 850,000 850,000 850,000 850,000 750,000 700,000 550,000 500,000 750,000/187,500
560-579 750,000 750,000 750,000 700,000 650,000 600,000
540-559 700,000 700,000 700,000 700,000 600,000 550,000
520-539 500,000 500,000 500,000 500,000 400,000
A4
0x30 reported
mortgage history
500-519 400,000 400,000 400,000 400,000
700+ 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 800,000 700,000 700,000 750,000/187,500
640-699 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 800,000 700,000 650,000 750,000/187,500
620-639 1,000,000 1,000,000 1,000,000 900,000 850,000 800,000 650,000 600,000 750,000/187,500
600-619 1,000,000 1,000,000 1,000,000 900,000 800,000 800,000 600,000 600,000 750,000/187,500
580-599 850,000 850,000 850,000 850,000 750,000 700,000 550,000
560-579 750,000 750,000 750,000 700,000 650,000 600,000
540-559 700,000 700,000 700,000 700,000 600,000 550,000
520-539 500,000 500,000 500,000 500,000 400,000
A5
<12 months reported
mortgage history
0x30 housing
500-519 400,000 400,000 400,000 400,000
700+ 1,000,000 1,000,000 1,000,000 1,000,000 850,000 750,000 700,000 700,000 650,000/162,500
640-699 1,000,000 1,000,000 1,000,000 1,000,000 850,000 750,000 700,000 650,000 650,000/162,500
620-639 1,000,000 1,000,000 1,000,000 850,000 850,000 750,000 650,000 500,000 650,000/162,500
600-619 1,000,000 1,000,000 1,000,000 850,000 800,000 750,000 600,000 500,000 650,000/162,500
580-599 850,000 850,000 850,000 800,000 750,000 650,000 550,000
560-579 750,000 750,000 750,000 700,000 650,000 600,000
540-559 700,000 700,000 700,000 700,000 600,000 550,000
520-539 500,000 500,000 500,000 500,000
Ax
1x30
(includes rolling)
500-519 400,000 400,000 400,000
620+ 850,000 850,000 850,000 750,000 750,000 600,000
600-619 750,000 750,000 750,000 750,000 750,000 600,000
580-599 750,000 750,000 750,000 650,000 650,000 600,000
560-579 650,000 650,000 650,000 650,000 650,000 500,000
540-559 650,000 650,000 650,000 600,000
520-539 500,000 500,000 500,000
Am
Unlimited 30's, 0x60
500-519 400,000 400,000 400,000
620+ 650,000 650,000 650,000 600,000 600,000
580-619 650,000 650,000 650,000 600,000 400,000
560-579 600,000 600,000 550,000 550,000 400,000
540-559 500,000 500,000 500,000
520-539 500,000 500,000 450,000
B
1x60, 0x90
(non-rolling)
500-519 400,000 400,000 400,000
620+ 500,000 500,000 400,000 400,000
580-619 450,000 450,000 400,000 400,000
540-579 450,000 450,000
C
Unlimited 60's, 1x90
(non-rolling)
520-539 450,000 400,000
Bankruptcy >=1 year >=2 years
Foreclosure >=1 year >=2 years >=3 years
Major Adverse Credit $5,000 may be left open ($10,000 for grade C) $1,500 may be left open ($10,000 for grade C)
40/30 & 40 year recast
J.I.M. FINANCIAL At-A-Glance 12/11/06
S500 Loan Program
Page 1 of 6
2. S500 Loan Limits
Housing Payment History for Full, Fast and Lite Income Documentation (Owner Occupied)
LTV
<=65%
LTV
65.01 to
70%
70.01 to
75%
75.01 to
80%
80.01 to
85%
85.01 to
90%
90.01 to
95%
95.01 to
100%
80/20 Combo
Borrowers without 12 month
reported mortgage history
• Requires Institutional Verification of housing, private verification of housing, or 12 months
canceled checks
• If documentation of housing indicates late or missing payments, the credit grade is downgraded
according to the number and severity of the late/missing payments
• Credit scores >=600, require
Institutional Verification of
Housing, Private Verification of
Housing, or 12 months canceled
checks
• Credit scores <600, require
Institutional Verification of
Housing or 12 months canceled
checks
• If documentation of housing
indicates late or missing
payments, the credit grade is
downgraded according to the
number and severity of the
late/missing payments
A5 Rent Free/Lives with
Relatives/owns free and clear or
cannot document
Maximum LTV/CLTV of 90% Not eligible
Maximum CLTV by Credit Score for Full, Lite and Fast Income Documentation (Owner Occupied)
Credit Grade Credit Score Max CLTV
A4, A5, Ax, Am 100%
B, C
580+
95%
All Grades 560-579 95%
All Grades 500-559 90%
J.I.M. FINANCIAL At-A-Glance 12/11/06
S500 Loan Program
Page 2 of 6
3. S500 Loan Limits
Maximum Loan Amounts & LTVs for Stated Income Documentation (Owner Occupied)
Credit Grade LTV
(12 month
Housing
History)
Credit
Score <=55%
55.01 to
60%
60.01 to
65%
65.01 to
70%
70.01 to
75%
75.01 to
80%
80.01 to
85%
85.01 to
90%
90.01 to
95%
95.01 to
100%
80/20 Combo
1st
/2nd
640+ 650,000 650,000 650,000 650,000 650,000 650,000 500,000 400,000 400,000 400,000 400,000/100,000
620-639 650,000 650,000 650,000 650,000 650,000 650,000 500,000 400,000 400,000
600-619 500,000 500,000 500,000 500,000 500,000 500,000 500,000 400,000 400,000
580-599 500,000 500,000 500,000 500,000 500,000 500,000 400,000 400,000 400,000
560-579 500,000 500,000 500,000 500,000 400,000 400,000 400,000
540-559 350,000 350,000 350,000 350,000 350,000 300,000
520-539 300,000 300,000 300,000
A4
0x30 reported
mortgage
history
500-519 250,000 250,000 250,000
640+ 650,000 650,000 650,000 650,000 650,000 650,000 500,000 400,000 400,000 400,000 400,000/100,000
620-639 650,000 650,000 650,000 650,000 650,000 650,000 500,000 400,000 400,000
600-619 500,000 500,000 500,000 500,000 500,000 500,000 500,000 400,000
580-599 500,000 500,000 500,000 500,000 500,000 500,000 400,000
560-579 400,000 400,000 400,000 400,000 400,000 400,000 400,000
540-559 350,000 350,000 350,000 350,000 350,000 300,000
520-539 300,000 300,000 300,000
A5
<12 months
reported
mortgage
history
0x30 housing
500-519 250,000 250,000 250,000
640+ 500,000 500,000 500,000 500,000 500,000 500,000 400,000 400,000 400,000
620-639 500,000 500,000 500,000 500,000 500,000 500,000 400,000 400,000
560-619 400,000 400,000 400,000 400,000 400,000 400,000 400,000
540-559 350,000 350,000 350,000 350,000 350,000 300,000
520-539 300,000 300,000 300,000
Ax
1x30
(includes
rolling)
500-519 250,000 250,000 250,000
620+ 500,000 500,000 500,000 500,000 500,000 500,000 400,000
580-619 400,000 400,000 400,000 400,000 400,000 400,000 400,000
560-579 350,000 350,000 350,000 350,000 350,000 300,000
540-559 300,000 300,000 300,000
Am
Unlimited
30's, 0x60
500-539 250,000 250,000 250,000
560+ 350,000 350,000 350,000 350,000 300,000B
1x60, 0x90
(non-rolling) 520-559 300,000 300,000 300,000
C
Unlimited
60's, 1x90
(non-rolling) 520+ 250,000 250,000 250,000
Bankruptcy >=1 year >=2 years
Foreclosure >=1 year >=2 ears >=3 years
Major Adverse Credit
$5,000 may be left open ($10,000 for grade C)
$1,500 may be left open ($10,000 for
grade C)
40/30 & 40 year recast N/A
J.I.M. FINANCIAL At-A-Glance 12/11/06
S500 Loan Program
Page 3 of 6
4. S500 Loan Limits
Maximum LTVs for Stated Income Documentation (Owner Occupied)
LTV
<=55%
55.01 to
60%
60.01 to
65%
65.01 to
70%
70.01 to
75%
75.01 to
80%
80.01 to
85%
85.01 to
90%
90.01 to
95%
95.01 to
100%
80/20 Combo
Borrowers without 12
month reported mortgage
history
• Requires Institutional Verification of Housing, Private Verification of Housing, or 12 months canceled checks
• If documentation of housing indicates late or missing payments, the credit grade is downgraded according to the number and severity of the
late/missing payments
A5 Rent Free/Lives with
Relatives/owns free and
clear or cannot document
Maximum LTV/CLTV of 90% Not eligible
Maximum CLTV by Credit Score for Stated Income Documentation (Owner Occupied)
Credit Grade Credit Score Maximum CLTV
A4, A5, Ax 600+ 100%
Am, B, C 600+ 95%
A4 580-599 95%
A5, Ax, Am, B, C 580-599 90%
All Grades 560-579 85%
All Grades 500-559 80%
J.I.M. FINANCIAL At-A-Glance 12/11/06
S500 Loan Program
Page 4 of 6
5. 50.01 to 55.01 to 60.01 to 65.01 to 70.01 to 75.01 to 80.01 to
55% 60% 65% 70% 75% 80% 85%
S500 Loan Limits
Maximum Loan Amounts & LTVs for Full, Fast and Lite Income Documentation (Non-owner Occupied)
LTV
Credit Grade (12 month
Housing History)
Credit
Score <=50%
A4 580-599 400,000 400,000 400,000 400,000 400,000 400,000 400,000 400,000
0x30 reported mortgage 560-579 350,000 350,000 350,000 350,000 350,000 350,000 350,000 350,000
history 540-559 300,000 300,000 300,000 300,000 300,000 300,000 300,000
520-539 300,000 300,000 300,000 300,000
A5 600+ 500,000 500,000 500,000 500,000 500,000 500,000 500,000 400,000
<12 months reported 580-599 400,000 400,000 400,000 400,000 400,000 400,000 400,000 400,000
mortgage history 560-579 350,000 350,000 350,000 350,000 350,000 350,000 350,000 350,000
0x30 housing 540-559 300,000 300,000 300,000 300,000 300,000 300,000 300,000
580+ 400,000 400,000 400,000 400,000 400,000 400,000 400,000 400,000
Ax 560-579 350,000 350,000 350,000 350,000 350,000 350,000 350,000
1x30 (includes rolling) 540-559 300,000 300,000 300,000 300,000 300,000 300,000 300,000
520-539 300,000 300,000 300,000 300,000
620+ 400,000 400,000 400,000 400,000 400,000 400,000 400,000 400,000
Am 580-619 350,000 350,000 350,000 350,000 350,000 350,000 350,000
Unlimited 30's 560-579 300,000 300,000 300,000 300,000 300,000 300,000 300,000
0x60 540-559 300,000 300,000 300,000 300,000
520-539 300,000 300,000 300,000 300,000
B 560+ 300,000 300,000 300,000 300,000 300,000 300,000
1x60, 0x90 (non-rolling) 540-559 300,000 300,000 300,000 300,000
C 560+ 300,000 300,000 300,000 300,000
Unlimited 60's,
1x90 (non-rolling) 540-559 300,000 300,000 300,000
Bankruptcy >=1 year >=2 years
Foreclosure >=2 years >=3 years
Major Adverse Credit $1,500 may be left open ($10,000 for grade C)
Minimum Loan Amount $50,000
Housing Payment History
Borrower without 12 months mortgage
history
Lives rent free/lives with relatives/owns
• Requires Institutional Verification of Rent or 12 months canceled checks
• If documentation of housing indicates late or missing payments, the credit grade is downgraded according to the number
and severity of the late/missing payments
free and clear or cannot document
Not eligible
CLTVs Secondary Financing Not eligible
40/30 Balloon, 40 Year Recast Not eligible
J.I.M. FINANCIAL At-A-Glance 12/11/06
S500 Loan Program
Page 5 of 6
6. S500 Loan Limits
Maximum Loan Amounts & LTVs for Stated Income Documentation (Non-owner Occupied)
LTVCredit Grade (12 month
Housing History)
Credit Score
<=50% 50.01-55% 55.01-60% 60.01-65% 65.01-70% 70.01-75% 75.01-80%
580+ 350,000 350,000 350,000 350,000 350,000 350,000 350,000
560-579 250,000 250,000 250,000 250,000 250,000 250,000
A4
0x30 reported mortgage
history 520-559 250,000 250,000 250,000 250,000
580+ 350,000 350,000 350,000 350,000 350,000 350,000 350,000
560-579 250,000 250,000 250,000 250,000 250,000 250,000
A5
<12 months reported mortgage
history; 0x30 housing 540-559 250,000 250,000 250,000 250,000
560+ 250,000 250,000 250,000 250,000 250,000 250,000
Ax 1x30 (includes rolling)
520-559 250,000 250,000 250,000 250,000
580+ 250,000 250,000 250,000 250,000 250,000 250,000
560-579 250,000 250,000 250,000 250,000 250,000Am Unlimited 30's, 0x60
520-559 200,000 200,000 200,000 200,000
560+ 250,000 250,000 250,000 250,000
B 1x60, 0x90
540-559 200,000 200,000 200,000 200,000
Bankruptcy >=1 year
Foreclosure >=2 years >=3 years
Major Adverse Credit $1,500 may be left open
Minimum Loan Amount $50,000
Housing Payment History
Borrower without 12 months mortgage history
• Requires Institutional Verification of Rent or 12 months canceled checks
• If documentation of housing indicates late or missing payments, the credit grade is downgraded according to the
number and severity of the late/missing payments
Rent free/lives with relatives/owns free and
clear or cannot document
Not eligible
CLTVs Secondary Financing not eligible
40/30 Balloon, 40 Year Recast Not eligible
J.I.M. FINANCIAL At-A-Glance 12/11/06
S500 Loan Program
Page 6 of 6
7. Documentation Requirements
Income Type Full Lite Fast Stated
• Paystub(s) showing most recent
30-days YTD income
• W-2 forms for most recent 2 years
or
• Written VOE
• Paystub(s) showing most recent
30-days YTD income
• W-2 forms for most recent year
or
• Written VOE
• Paystub(s) showing most recent
30-days YTD income
• W-2 forms for most recent year
or
• Written VOE
Additional requirement for B & C:
Verbal VOE 5 days prior to closing.
Additional requirement for B &
C:
Verbal VOE 5 days prior to closing.
Additional requirement for B & C:
Verbal VOE 5 days prior to closing.
Bonus or overtime income: Averaged
over most recent 2 years unless
declining, then past 12 months will be
averaged
Bonus or overtime income: Not
used for qualifying.
Bonus or overtime income:
Averaged over most recent year.
Tips or gratuity income: Averaged
over most recent 2 years unless
declining, then past 12 months will be
averaged.
Tips or gratuity income: Not used
for qualifying.
Tips or gratuity income: Averaged
over most recent year.
Wage Earner
Commission income: Averaged over
most recent 2 years using personal tax
returns & deducting non-reimbursed
business expenses as reported on IRS
Form 2106. If declining in most recent
tax year lower income is used
Commission income: Not used for
qualifying.
Commission income: Averaged over
most recent year using personal tax
returns & deducting non-reimbursed
business expenses as reported on IRS
Form 2106.
• Income must be stated on the
application
• Credit grades A4, A5 and Ax only
• Minimum 580 Credit Score
• Verbal VOE required
• Owner occupied, primary residence
or second/vacation home
• Signed and dated IRS Forms 4506 or
4506-T authorizing the Client or its
assigns to obtain income information
S500 Income Documentation
This is summary information only. Refer to the Client Guide for complete and definitive underwriting guidelines.
J.I.M. FINANCIAL At-A-Glance 03/13/06
S500/Credit Gap Income Documentation Page 1 of 3
8. S500 Income Documentation
Documentation Requirements
Income Type Full Lite Fast Stated
Self-Employed
• Personal tax returns with all schedules
for most recent 2 years
• Business tax returns with all schedules
for most recent 2 years
• Proof of existence of business
(business license or confirmation
through phone directory listing) for
most recent 2 years
or
• Personal bank statements for most
recent 2 years and proof of existence
of business (business license or
confirmation through phone directory
listing) for most recent 2 years with
conditions as required for
self-employed income
Additional requirement: If >120 days
since filing tax return, a signed & dated
P&L is required.
Not available
• Personal tax return with all
schedules for most recent year
• Business tax returns with all
schedules for most recent year
• Proof of existence of business
(business license or confirmation
through phone directory listing) for
most recent 2 years
or
• Personal bank statements for most
recent year with conditions as
required for self-employed income
Additional requirement: If >120
days since filing tax return, a signed &
dated P&L is required.
• Income must be stated on the
application
• Verification of the existence of the
Borrower’s business through
evidence of a business license and
confirmation of a phone directory
listing. If a license is not required for
the business, a signed confirmation
of business is required by Borrower’s
accountant or other CPA
• Signed and dated IRS Forms 4506 or
4506-T authorizing the Client and/or
its assigns to obtain income
information
Fixed Income
One of the following is required:
• W-2P Form for most recent 2 years
• Award Letter or Court Order and
evidence of receipt
• 1099 Forms for most recent 2 years
• Personal tax returns with all schedules
for most recent 2 years
• Copy of divorce stipulation and decree
or Court Order
Not available
One of the following is required:
• Most recent W-2P Form
• Award Letter or Court Order and
evidence of receipt
• 1099 Form for most recent year
• Personal tax return with all
schedules for most recent year
• Copy of divorce stipulation and
decree or Court Order
Not available
Rental Income
• Current annual lease
• Schedule E for most recent 2 years or
• Operating Income Statement
Not available
• Current annual lease
• Schedule E for most recent year or
• Operating Income Statement
Income stated on the 1003
Interest and
Dividend
Income
• Personal tax returns with Schedules B
for most recent 2 years
• Proof of assets to support the interest
or dividend income
Not available
• Personal tax return with Schedules B
for most recent year
• Proof of assets to support the
interest or dividend income
Not available
J.I.M. FINANCIAL At-A-Glance 03/13/06
S500/Credit Gap Income Documentation Page 2 of 3
9. S500 Income Documentation
Documentation Requirements
Income Type Full Lite Fast Stated
Trust Income
Trust Agreement or Trustee’s Statement
and one of the following:
• Personal tax returns with all schedules
for most recent 2 years
• K-1 Schedule for most recent 2 years
• 1041 Fiduciary tax returns for most
recent 2 years
Not available
Trust Agreement or Trustee’s
Statement and one of the following:
• Personal tax returns with all
schedules for most recent year
• K-1 Schedule for most recent year
• 1041 Fiduciary tax returns for most
recent year
Not available
Note Income
Copy of Note and one of the following:
• Tax returns with all schedules for most
recent 2 years
• Bank statements showing Note income
deposited for most recent 2 years
Not available
Copy of Note and one of the following:
• Tax returns with all schedules for
most recent year
• Bank statements showing Note
income deposited for most recent
year
Not available
Inherited and
Guaranteed
Income
• Award Letter
• Personal tax returns with all schedules
for most recent 2 years
Not available
• Award Letter
• Personal tax returns with all
schedules for most recent year
Not available
Temporary
Disability
Income
• Insurance Award Letter
• Letter from Borrower’s employer Not available
• Insurance Award Letter
• Letter from Borrower’s employer Not available
Seasonal
Unemployment
Compensation
• Personal tax returns with all schedules
for most recent 2 years Not available
• Personal tax return with all
schedules for most recent year
• Letter from the Borrower’s employer
Not available
J.I.M. FINANCIAL At-A-Glance 03/13/06
S500/Credit Gap Income Documentation Page 3 of 3
10. S500 Underwriting Criteria
This is summary information only. Refer to the Client Guide for complete and definitive underwriting guidelines.
Owner Occupied and Second/Vacation Owner Occupied
Full, Lite, Fast and Stated Income Documentation, All Property Types Full, Lite, Fast and Stated
LTV Percentages <=65 65.01-70 70.01-75 75.01-80 80.01-85 85.01-90 90.01-95 95.01-100 J.I.M. FINANCIAL 80/20
Credit
DTI e Maximum DTI 50%; DTI up to 55% allowed with 2 months reserves or $1,500 residual income
e For the 40 Year Recast and 40/30 Balloon Features, DTI cannot exceed 50%
Residual Income No Minimum $1,500 No Minimum
Reserves None Required e None required for Full, Lite or Fast
e Stated requires 2 months
Trade Lines All credit grades require a Credit Score based on:
e A minimum two year credit history
e At least one trade (derogatory or non-derogatory) reported in the past six months
e A minimum number of non-derogatory trade lines based on credit grade and income documentation type:
o Full, Lite & Fast – minimum 3 non-derogatory trade lines
o Stated – minimum 5 non-derogatory trade lines
Seller Concessions Maximum of 6% non recurring
Temporary Buy Downs Not eligible
Adverse Credit Collection accounts, charge-off accounts, judgments, liens, delinquent property taxes, repossessions, garnishments and accounts
currently 90 days or more delinquent are considered Major Adverse Credit.
e Medical accounts that are collection or charge-offs will not be required to be paid. Aggregate totals exceeding the CLTV limits for the
loan transaction will be reviewed on a case-by-case basis
e All property, State, and IRS tax liens, regardless of seasoning, are required to be paid whether or not they currently affect title. No
payment plans or subordination allowed. Property tax liens on other properties will be considered Major Adverse Credit. Federal tax
liens older than ten years are not required to be paid unless the title company requires payoff.
e Adverse accounts > 24 months that do not affect title will not be considered in grade determination and are not required to be paid
e Cumulative adverse accounts and all non-medical adverse credit <24 months seasoned, must be paid off if it exceeds amounts listed
below:
o For LTV <=90%, $5,000 may be left open provided it does not affect title
o For LTV >90%, $1,500 may be left open provided it does not affect title
o For C grade, $10,000 may be left open provided it does not affect title
Borrower Eligibility
US Citizen
Borrower without 12 months reported mortgage history
Permanent resident alien
Non-permanent resident alien Maximum LTV/CLTV 90%. No cash-out permitted. Not eligible
Non-occupant co-borrower Not eligible
Foreign National Not eligible
Transaction Types
Purchase Mortgage
Rate/Term Refinance Mortgage
Cash Out Refinance Mortgage e Maximum Cash out of $150,000 (cash-in-hand may be the greater of $50,000 or 30% of Loan Amount)
e For credit grade C, no cash-in-hand allowed unless derogatory and revolving debt is paid off.
e No cash-out permitted for non-permanent resident aliens.
Construction/Permanent Mortgage Not eligible
Contract for Deed/Land Contract See Chapter 3B, Contract for Deed/Land Contract Section for more information. Not eligible
Lease with option to Purchase Not eligible
J.I.M. FINANCIAL At-A-Glance 12/11/06
S500 Underwriting Criteria Page 1 of 4
11. S500 Underwriting Criteria
Owner Occupied and Second/Vacation Owner Occupied
Full, Lite, Fast and Stated Income Documentation, All Property Types Full, Lite, Fast and Stated
LTV Percentages <=65 65.01-70 70.01-75 75.01-80 80.01-85 85.01-90 90.01-95 95.01-100 J.I.M. FINANCIAL 80/20
Property Types
Single Family 1 -2 units
(attached or detached)
Second/vacation limited to 1 unit only
PUD
Modularized, Panelized, Pre-cut Home
Single Family 3-4 units Second/vacation not eligible. Maximum LTV/CLTV 90% Not eligible
Condominium unlimited stories Must meet J.I.M. FINANCIAL Class II or III warranties
Rural property Maximum LTV/CLTV of 90% Not eligible
Mixed Use properties e Reduce LTV/CLTV 15%, Max Loan amount of $500,000
or maximum allowed for credit grade.
e Full, Lite & Fast: Max LTV/CLTV 85% (after reduction)
e Stated: Max LTV/CLTV 80% (after reduction)
Not eligible
Occupancy
Second/Vacation Restricted to 1 unit only. 2-4 units are not eligible. Not eligible
Loan Amount Minimum
Properties with a loan amount less than $50,000 have a maximum LTV/CLTV of 60% Minimum $20,000 loan amount
for 2nd mortgage (or as specified
by State law)
Secondary Financing
10%-20% LTV allowed on
simultaneous 2nd Lien
Stated Income Requirements
Wage Earners Minimum of 580 Credit Score; Grades A4, A5, Ax only (1x30 housing history or better)
Self-Employed
Rental Income
Interest Only
Transaction Types Purchase mortgage, rate/term refinance mortgage, or cash-out refinance mortgage.
Credit Grades e A4 0x30 reported mortgage Delinquency in past 12 months
e A5 0x30 unreported housing and/or <12 months reported mortgage history
e Ax 1x30 mortgage/rental history in past 12 months, rolling lates allowed, no more than 30 days down at closing
Minimum Credit Score e Full, Fast, Lite: 580
e Stated Income: 640
Occupancy e Owner Occupied, Primary Residence only
Property Types e Single family 1 -2 units attached or detached
e PUD
e Modular homes, Panelized homes, Pre-cut homes
e Condominiums, unlimited stories with Class II or Class III Warranties
Term e Standard IO term is 5 years
DTI e Maximum DTI is 45%
e 45.01% to 50% DTI allowed with 2 months reserves or $1,500 residual income
40/30 Balloon, 40 Year Recast
e Not allowed on 2nd
liens
e For the 40 Year Recast and 40/30 Balloon Features, maximum 50% DTI
e Not allowed on Interest Only feature
J.I.M. FINANCIAL At-A-Glance 12/11/06
S500 Underwriting Criteria Page 2 of 4
12. S500 Underwriting Criteria
Non-Owner Occupied
Full, Lite, Fast, and Stated Income Documentation, All Property Types
LTV Percentages <=50 50.01-60 60.01-65 65.01-70 70.01-75 75.01-80 80.01-85
Credit
DTI Maximum of 50%; up to 55% allowed with 2 months reserves or $1,500 residual income
Residual Income Minimum $1,500
Reserves e None required
Trade Lines All credit grades require a Credit Score based on:
e A minimum two year credit history
e At least one trade (derogatory or non-derogatory) reported in the past six months
e A minimum number of non-derogatory trade lines based on credit grade and income documentation type:
o Full, Lite & Fast – minimum 3 non-derogatory trade lines
o Stated – minimum 5 non-derogatory trade lines
Seller Concessions Maximum of 3% non-recurring
Temporary Buy Downs Not eligible
Adverse Credit Collection accounts, charge-off accounts, judgments, liens, delinquent property taxes, repossessions, garnishments and accounts
currently 90 days or more delinquent are considered Major Adverse Credit.
e Medical accounts that are collection or charge-offs will not be required to be paid. Aggregate totals exceeding the CLTV limits for the
loan transaction will be reviewed on a case-by-case basis
e All property, State, and IRS tax liens, regardless of seasoning, are required to be paid whether or not they currently affect title. No
payment plans or subordination allowed. Property tax liens on other properties will be considered Major Adverse Credit. Federal tax
liens older than ten years are not required to be paid unless the title company requires payoff.
e Adverse accounts > 24 months old that do not affect title will not be considered in grade determination and are not required to be paid
e Cumulative adverse accounts and all non-medical adverse credit < 24 months seasoned, must be paid off if it exceeds $1,500 ($1,500
may be left open provided it does not affect title)
Borrower Eligibility
US Citizen
Borrower without 12 months reported mortgage history
Permanent resident alien
Non-permanent resident alien Not eligible
Non-occupant co-borrower Not eligible
Foreign National Not eligible
Transaction Types
Purchase Mortgage
Rate/Term Refinance Mortgage
Cash Out Refinance Mortgage e Maximum Cash out of $150,000 (cash-in-hand may be greater of $50,000 or 30% of loan amount)
e For credit grade C, no cash-in-hand allowed unless derogatory and revolving debt is paid off
Construction/Permanent Mortgage Not eligible
Contract for Deed/Land Contract Not eligible
Lease with option to Purchase Not eligible
J.I.M. FINANCIAL At-A-Glance 12/11/06
S500 Underwriting Criteria Page 3 of 4
13. S500 Underwriting Criteria
Non-Owner Occupied
Full, Lite, Fast, and Stated Income Documentation, All Property Types
LTV Percentages <=50 50.01-60 60.01-65 65.01-70 70.01-75 75.01-80 80.01-85
Property Types
Single Family 1 -2 units (attached or detached)
PUD
Modularized, Panelized, Pre-cut Home
Single Family 3-4 units Maximum LTV 75% Not eligible
Condominium unlimited stories Must meet J.I.M. FINANCIAL Class II or III warranties
Rural property Not eligible
Mixed Use properties Not eligible
Loan Amount Minimum
$50,000
Secondary Financing
Secondary Financing is not eligible
Stated Income Requirements
Stated Wage Earners Not eligible
Self-Employed
Interest Only
Not eligible
40/30 Balloon, 40 Year Recast
Not eligible
J.I.M. FINANCIAL At-A-Glance 12/11/06
S500 Underwriting Criteria Page 4 of 4