Carrington Wholesale Lending

Bulletin W13-101 – Launch of Jumbo Preferred Product Offering

August 23, 2013Bulletins

Topic included in Bulletin W13-101:

  • CMS announces the addition of the Jumbo Preferred program to our product offerings
  • Highlights of the program include:
    • Available for Purchase and Rate/Term Refinance transactions
    • 30 and 15 Year Fixed Rate
    • 5/1 and 7/1 ARMs available
    • Maximum LTV/CLTV is 80%, subject to Market Classifications
    • Minimum credit score of 720
    • DTI Ratio of 36%/40%
    • Maximum Loan Amount of $2,000,000
    • Available for Single Family Residences, PUDs and Condominiums
  • Program Codes for the program are reflected in the pricing engine, they are:
    • J30P – Fixed 30 Year
    • J15P – Fixed 15 Year
    • J51P – ARM 5/1
    • J71P – ARM 7/1
  • Program available Monday, August 23, 2013
  • Guidelines posted on the Intranet

Download: Bulletin – W13-101 (PDF)

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