Carrington Wholesale Lending

Bulletin W13-064 – Re-Launch of LPMI Product Offering

June 21, 2013Bulletins

Topic included in Bulletin W13-064:

  • Re-Launch of LPMI Product Offering
  • Effective Immediately
  • Available on Conventional 30 year Conforming and Conventional High Balance Fixed Rate loans
  • LPMI available for loans with LTVs exceeding 80%, under the following circumstances:
    • Single Family Residence, Primary Resident or Second Home
    • Maximum Loan Amount of $625,500
    • Maximum LTV of 95%
    • Minimum 700 credit score
    • Maximum DTI of 41%
    • 45% DTI allowed with 740 FICO
    • Minimum 2 months PITI Reserves
    • Borrower must contribute a minimum of 5% of the down payment from own funds
    • DU Approve/Eligible only
    • Additional Loan Level Price Adjustments (LLPA) my apply
  • Program codes for LPMI are reflected in the pricing engine
  • LPMI Product Guidelines posted to the Intranet

Download: Bulletin – W13-064 (PDF)

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