New Soft Market Guidelines

Mortgage and Lending with The Mortgage Group, Ltd

We were notified yesterday that, on an exception basis, we have an outlet for 95LTV loans. Again, it is an exception, so if you have a strong file with positive compensating factors (great credit/reserves), we'd love to see it. This will work best in areas that exceed the FHA lending limits, yet are still within Fannie Mae conforming limits.

Please be advised that we can now accept loans in Soft Markets up to 95% without a 5% reduction in LTV for both purchases and refinances(See Below).

Effective immediately, the Soft Market Policy policy has been enhanced as follows:
The exception that was allowed for 95% Conforming Purchase transactions has been extended to 95% Conforming Rate & Term transactions.
Soft Market reduction is not required for loans in ALL soft market categories or designated as a soft market that meet the conditions below:

Eligibility Requirements:

· Purchase and Rate-and-Term Refinance transactions

· 95% LTV or maximum per Loan Program Guidelines

· 1 unit

· SFR or PUD

· Owner-occupied

· Full doc

· Pricing and MI coverage are per the actual LTV at the time of refinance


By and sell your FSBO's HERE!