Table 1 of 5
| Criteria | PLATINUM | PLATINUM >90% |
| NonQM Profile Category | Bank Statement; Interest Only; High LTV; Non Warrantbale Condo | High LTV; Non Warrantable Condo |
| Documentation | Full/1 Yr tax return/Bank Statement | Full |
| Maximum Loan Amount | 3MM | 1.5MM |
| 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) | N/A |
| Bankruptcy Seasoning | 48 Months | 48 Months |
| DTI | 40/50% | 35/40% |
| Credit Score (min) | 660 | 720 |
| Foreclosure, Short Sale, Deed-in-Lieu | 48 Months | 48 Months |
| Occupancy | Owner-Occupied or Second Home | Owner-Occupied |
| Min. Reserves | 6 months | 12 months |
| Residual Income (min) | 3000 | 3000 |
| Max Payment Shock | 350% FTHB – 250% | 350% FTHB – 250% |
| Mortgage (or rent) Payment History | 1 x 30 x 12 or 2 x 30 x 24 | 0 x 30 x 12 |
| Rent Free | Not Eligible | Not Eligible |
| Max LTV | 90% | 95% |
| Gift Funds | Allowed | Not Allowed |
| Max Cash in Hand | $500K | N/A |
| 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 | Just Missed agency/Jumbo fallout 95% LTV up to $1.5MM |
| 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) |
Table 2 of 5
| Criteria | PLATINUM ASSET QUALIFER | PLATINUM ASSET QUALIFER |
| NonQM Profile Category | Asset Qualifier; Interest Only; Non Warrantable Condo | Asset Qualifier; Interest Only; Non Warrantable Condo |
| Documentation | Asset Only | Asset Only |
| 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 | 60 Months | 60 Months |
| DTI | 40/50% | 40/50% |
| Credit Score (min) | 700 | 700 |
| Foreclosure, Short Sale, Deed-in-Lieu | 60 Months | 60 Months |
| Occupancy | Owner-Occupied | Owner-Occupied |
| Min. Reserves | 6 months | 6 months |
| Residual Income (min) | 1300 | 1300 |
| Max Payment Shock | 350% FTHB – 250% | 350% FTHB – 250% |
| Mortgage (or rent) Payment History | 1 x 30 x 12 or 2 x 30 x 24 | 1 x 30 x 12 or 2 x 30 x 24 |
| Rent Free | Not Eligible | Not Eligible |
| Max LTV | 75% | 75% |
| Gift Funds | Not Allowed | Not Allowed |
| Max Cash in Hand | N/A | N/A |
| Non Warrantable Condos | Available | Available |
| Marketing | Perfect for Borrowers With High Net Worth and Significant Assets No other income required | Perfect for Borrowers With High Net Worth and Significant Assets No other income required |
| 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) |
Table 3 of 5
| Criteria | PORTFOLIO SELECT | PORTFOLIO SELECT ASSET QUALIFER |
| NonQM Profile Category | Bank Statement; Interest Only; High LTV; Investor, Non Warrantable Condo | Asset Qualifier; Interest Only; Non Warrantable Condo |
| Documentation | Full/1 Yr tax return/Bank Statement | Asset Only |
| 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 | 24 Months | 60 Months |
| DTI | 40/50% Investment properties 50% | 40/50% |
| Credit Score (min) | 600 | 700 |
| Foreclosure, Short Sale, Deed-in-Lieu | 24 Months Sort Sale – No seasonong if paid as agreed through sale date | 60 Months |
| Occupancy | Owner-Occupied, Second Home or Investmnet Property | Owner-Occupied |
| Min. Reserves | 6 months, 12 months under certain circumstances | 6 months |
| Residual Income (min) | 2000 | 1300 |
| Max Payment Shock | 250% | 250% |
| Mortgage (or rent) Payment History | Max 1 x 30 x 12 | Max 1 x 30 x 12 |
| Rent Free | Not Eligible | Not Eligible |
| Max LTV | 90% | 75% |
| Gift Funds | Allowed | Not Allowed |
| Max Cash in Hand | $500K | N/A |
| Non Warrantable Condos | Available | Available |
| Marketing | SE borrowers using bank statements for income (down to a 600 FICO) or borrowers with a major credit event over 2 years | Perfect for Borrowers With High Net Worth and Significant Assets No other income required |
| 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) |
Table 4 of 5
| Criteria | NON-PRIME ≤ 80% | NON-PRIME >80% |
| NonQM Profile Category | Fresh Start; Low Score; Non Warrantable Condo | Fresh Start; High LTV; Non Warrantable Condo |
| Documentation | Full | Full |
| Maximum Loan Amount | 1MM | 750K |
| Loan Term/Mortgage Rate Type | 30 yr fixed or 5/1 ARM | 30 yr fixed or 5/1 ARM |
| Interest Only | N/A | N/A |
| Bankruptcy Seasoning | N/A | N/A |
| DTI | 40/50% Investment properties 50% | 40/50% |
| Credit Score (min) | 500 | 600 |
| Foreclosure, Short Sale, Deed-in-Lieu | No Seasonong | 12 Months |
| Occupancy | Owner-Occupied, Second Home or Investmnet Property | Owner-Occupied |
| Min. Reserves | 3 months, 6-12 months under certain circumstances | 3 months, 6-12 months under certain circumstances |
| Residual Income (min) | 1500 | 1500 |
| Max Payment Shock | 350% | 350% |
| Mortgage (or rent) Payment History | 120’s allowed in past 12 months 0x30 FTHB | Max 1 x 30 x 12 |
| Rent Free | Eligible | Eligible |
| Max LTV | 80% | 90% |
| Gift Funds | Allowed | Allowed |
| Max Cash in Hand | $500K | N/A |
| Non Warrantable Condos | Available | Available |
| Marketing | 75% LTV for credit scores down to 500 80% LTV for credits scores at 540 | Debt Consolidation up to 90% LTV |
| 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) |
Table 5 of 5
| Criteria | FOREIGN NATIONAL | INVESTOR CASH FLOW |
| NonQM Profile Category | Foreign National; Investor; Non Warrantable Condo | Investor; No Income; Interest Only; Non Warrantable Condo |
| Documentation | Full | Debt Service Covergae Ratio |
| Maximum Loan Amount | 750K | 1.5MM |
| Loan Term/Mortgage Rate Type | 30 yr fixed or 5/1 ARM | 30 yr fixed or 7/1 ARM |
| Interest Only | N/A | 30 or 40-Year Fixed I/O or 7/1 ARM I/O (30 or 40 yr) |
| Bankruptcy Seasoning | N/A | 24 Months |
| DTI | 50% | N/A |
| Credit Score (min) | N/A | 640 |
| Foreclosure, Short Sale, Deed-in-Lieu | N/A | 24 Months |
| Occupancy | Investment Property | Investment Property |
| Min. Reserves | 12 months + 2 for each addional property | 6 months |
| Residual Income (min) | N/A | N/A |
| Max Payment Shock | 350% | N/A |
| Mortgage (or rent) Payment History | 0 x 30 x24 | 0 x 30 x24 |
| Rent Free | Not Eligible | Not Eligible |
| Max LTV | 75% | 80% |
| Gift Funds | Not Allowed | Not Allowed |
| Max Cash in Hand | $300K | $300K |
| Non Warrantable Condos | Available | Available |
| Marketing | Program is for borrowers that live and work outside of the US | No Income/No ratio program designed for investors. Program qualifies using the cash flow of the subject property only |
| 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
