WMC - Effective Feb 1st
* Increased rates for <=95% LTV/CLTV by +.15
* Add increases for condo, 3-4 units & 2nd home
* Raised 80/20 Full Doc min FICO to >=620
* 80/20 Stated FTHB: discontinued 100% CLTV pricing
* Raised Stated Non-FTHB min FICO to >=700
Option One - Intel Feb 2nd
* Increased min credit score requirements on Full Doc to 640
* The report the worst loan performance
Option One (Owned by H&R Block, Owned By HSBC)- Is Up for ..:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />..:NAMESPACE PREFIX = ST1 />Sale selling off it's portfolio
Decision One - Effective Feb 1st
* Increased min credit score requirements on Full Doc to 620
* Increased min credit score requirements on Stated to 660
Decision One closed 6 regional centers.
Homecomings Financial - Effective Feb 1st
* Min credit score increased from 580 to 600 for Full, Lite and Fast Doc
* Min credit score increased from 640 to 660 for Sated Income
* 55% DTI now requires 640+ credit score (IO and 40 yr limited to 50% DTI)
* Max seller contributions are being reduced from 6% to 3%
* Minimum loan amounts requirements increased to $100,000
* IndyMac - Effective January 26th
* Minimum 640 Fico for Full Doc loans (change from 620)
* Minimum 660 Fico for Stated loans (change for 640)
* Require 2 months PITI reserves for all First Time Home Buyers and all Full Doc loans 640-659 Fico and 3 mths for Stated 660-679
Countrywide - Effective Feb 1st
* 24 month credit history, 3 trade lines, 3000 high credit (collections count)
* max 200 payment shock for purchases
* stated loans @ or above 90 require 2 months piti sourced and seasoned
* 100 LTV, borrower has to be 0x30 or capped at 95 LTV with a 1x30
* 2yr BK seasoning on loans with 100 LTV
* I/O min credit needed, 580 stated wage earner, minimum 560 credit needed
Encore - Effective Feb 1st
* Increased their min credit score on Full Doc from 600 to 640
* Increased their min credit score on Stated from 660 to 680
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