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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

Scenario Desk:

Non-prime
Guideline

Loan submission
form

User Access
request form

Platinum info

Portfolio Select
info

Initial
Disclosures

Interest Only Flyer

Training
Video

Quick
Quote

UW
submission

Request
disclosures

Submit
Conditions

Loan
Process