Bulletin W13-038 - Update, Conventional Product

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)