Bulletin W13-053 - Update, FHA and VA Programs

Topic included in Bulletin W13-053:

FHA and VA guidelines have been updated and are effective Monday, June 3, 2013

• Updates include:
  • First Time Homebuyers – removal of all prior overlays
  • FHA Streamline Refinance s- Maximum CLTV increased to 125%
  • Non-Traditional credit allowed on FHA and VA Standard programs
  • Added section regarding Insufficient Credit to matrices and guidelines
  • Guidelines and matrices have been updated and are published on the Intranet
• Link for FHA Underwriting Guidelines:  http://carringtonhome.corp.int/Corporate%20Document%20Library/Underwriting%20Guidelines%20(FHA%20Loans).pdf
• Link for Conforming and High Balance Matrix:  http://carringtonhome.corp.int/Corporate%20Document%20Library/CMS%20FHA%20Conforming%20and%20High%20Balance%20Matrix.pdf
• Link for FHA Streamline Matrix:  http://carringtonhome.corp.int/Corporate%20Document%20Library/CMS%20FHA%20Streamline%20Matrix-Wholesale.pdf
• The website has been updated

Download: Bulletin - W13-053 (PDF)