Purchases: Cutoff time for next day signing is:
3:00pm local time
Refinances: Cuttoff time for next day signing is:
12:00pm local time
CURRENT UNDERWRITING DATES:
|Jumbo Submitted On||9/1/2015|
|Purchases Submitted On||9/2/2015|
|Refinances Submitted On||9/2/2015|
(14 July 2015)
We've updated our Proprietary Jumbo guidelines!
Take a look at a summary of changes below, or view the whole guidelines here.
Summary of changes:
- Modified reserve requirement for high LTV Jumbo to 24 months.
- Added Non-Warrantable Condominium restriction to gifts of equity.
- New section added for life insurance requirements.
- Modified CDA tolerance for High LTV Jumbo.
- Changed LTV/CLTV restriction for PUDs from 80% to 90%.
- Removed subordinate lien restriction for purchase-money transactions in Texas.