Bulletin W13-031 - Update, Conventional Matrix, Conforming DU
April 11, 2013
Topic included in Bulletin W13-031:
- Conventional Conforming DU Matrix has been updated
- Effective now
- Updates include:
- Investment property 85% - the minimum credit score is 680 due to MI guidelines
- Borrower must make a minimum 5% contribution when gift funds are involved in transaction and LTV>80% and the subject property is a primary residence of 2-4 units
- Borrower must make a minimum 5% contribution when gift funds are involved in transaction and LTV>80 and the subject property is a second home
- Updated matrix is posted on the Intranet at Mortgage Services/Mortgage Lending/Policies and Procedures/CMS Product Matrices
- Wholesale website will be updated
Download: Bulletin - W13-031 (PDF)
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