MAJOR MARKET CHANGE ALERT !!!
Effective immediately the prime market is experiencing HUGE changes to high CLTV,
reduced doc, and NOO products! The second lien market is evaporating at record
speed and is virtually becoming nonexistent! These changes are happening across the
market, with all lenders ... remember the industry saying "subject to change without
notice".
What does this mean to you?
* My community 100% which allows for EAI and EAII, low M.I.
* Flex 80/20 loans still available Full Doc with score of 700 using our C30 and
Elite Full Doc seconds
* Flex100 loans can be used instead of 80/20's and 75/25's
* FHA 97% loans w/gift will be used instead of 80/20's
* VA 100% loans will be used instead of 80/20's
* OO Full doc Alt A loans will be capped at 95% cltv
* OO SIVA, No Ratio, SISA, and No Doc 1st and 2nds will be capped at 90% cltv
* NOO Full doc Alt A loans will be capped at 90% cltv
* Discontinued ... NOO No Ratio, SISA and No Doc seconds
What else may be on the horizon?
* SIVA, No ratio, SISA, and No doc will only be available for self employed?
