Bulletin W13-101 - Launch of Jumbo Preferred Product Offering

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)