| Criteria | PLATINUM | PORTFOLIO SELECT |
| NonQM Profile Category | Bank Statement; Interest Only; High LTV; Non Warrantbale Condo | Bank Statement; Interest Only; High LTV; Investor, Non Warrantable Condo |
| Documentation | Full/1 Yr tax return/Bank Statement | Full/1 Yr tax return/Bank Statement |
| Maximum Loan Amount | 3MM | 3MM |
| Loan Term/Mortgage Rate Type | 30 yr fixed or 5/1 ARM | 30 yr fixed or 5/1 ARM |
| Interest Only | 30 or 40-Year Fixed I/O or 5/1 ARM I/O (30 or 40 yr) | 30 or 40-Year Fixed I/O or 5/1 ARM I/O (30 or 40 yr) |
| Bankruptcy Seasoning | 48 Months | 24 Months |
| DTI | 40/50% | 40/50% Investment properties 50% |
| Credit Score (min) | 660 | 600 |
| Foreclosure, Short Sale, Deed-in-Lieu | 48 Months | 24 Months Sort Sale – No seasonong if paid as agreed through sale date |
| Occupancy | Owner-Occupied or Second Home | Owner-Occupied, Second Home or Investmnet Property |
| Min. Reserves | 6 months | 6 months, 12 months under certain circumstances |
| Residual Income (min) | $3,000 | $2,000 |
| Max Payment Shock | 350% FTHB – 250% | 250% |
| Mortgage (or rent) Payment History | 1 x 30 x 12 or 2 x 30 x 24 | Max 1 x 30 x 12 |
| Rent Free | Not Eligible | Not Eligible |
| Max LTV | 90% | 90% |
| Gift Funds | Allowed | Allowed |
| Max Cash in Hand | $500K | $500K |
| Non Warrantable Condos | Available | Available |
| Marketing | Just Missed agency fallout, perfect for SE borrowers using bank statements for income or borrowers with a major credit event between 4-7 years | SE borrowers using bank statements for income (down to a 600 FICO) or borrowers with a major credit event over 2 years |
| Operational | Visit our website at www.angeloakms.com for rates (QuickQuote) or to get a Prequal for your borrower (Prequal Request) | Visit our website at www.angeloakms.com for rates (QuickQuote) or to get a Prequal for your borrower (Prequal Request) |
Angel Oak:
Bill Parnell
Direct: 925-726-9123
Email: Bill.Parnell@angeloakms.com
