Carrington Wholesale Lending

Bulletin W13-038 – Update, Conventional Product

May 1, 2013Bulletins

Topic included in Bulletin W13-038:

  • Conventional Product guidelines updated
  • Effective Wednesday, May 1, 2013
  • Updates include:
    • 30 Year Fixed Rate Only
    • AUS Approve/Eligible required
    • Minimum 680 credit score
    • First Time Homebuyers are eligible
    • Must meet MI Company guidelines, including eligible property types, market classifications
    • Deferred monthly MI (no money is needed at closing to set up monthly MI account)
    • Max DT is 50% regardless of AUS findings
  • Updated Guidelines are posted to the Intranet and website

Download: Bulletin – W13-038 (PDF)

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