| Non-Prime | |
| Credit | |
| Max LTV | OO 90% NOO 80% |
| FICO | OO 500+ NOO 580+ |
| Loam Amount | |
| Minimum | $ 100,000 |
| Maximum | $ 2,000,000 |
| Debt Ratios | |
| Max DTI | 43% |
| Enhanced DTI (to 50%) | √ |
| Enhanced DTI (to 55%) | √ (Not allowed for NOO) |
| Income Documentation | |
| Full Doc | √ |
| Asset Depletion | √ (Not allowed for NOO) |
| 24 Month Personal Statements | √ |
| 24 Month Business Statements | √ |
| 1 Year Alt Doc | √ |
| 12 Mo Personal Bank Statements | √ |
| Product Type | |
| 5/1 ARM | √ |
| 7/1 ARM | √ |
| 30 Year Fixed | √ |
| Interest Only | √ |
| Mortgage History | Option A 0x60x12; Option B 0x120x12; Option C 0x120x12 |
| Bankruptcy Seasoning | Option A 24 Months; Option B 12Months; Option C Settled |
| FC/SS/DIL Seasoning | Option A 24 Months; Option B 12Months; Option C Settled |
| Residual Income | $ 1,500.00 |
| Marketing Points | Borrowers with Credit Blemishes & Recent Housing Issues Owner-occupied borrowers with a housing default in the last 2 years. LTV’s up to 90%. Best for: • Consumer credit challenges with consistent housing history • Credit grades for 24 Months from housing event to no seasoning required from housing event • Income documented outside of QM – Bank Statements OK |
| Operation Points | Scenario Desk: |
| Product Pricing Tool: https://deephavencorrespondent.pricerone.com |
Deep Haven:
Heather Carrico
Direct: 704.885.5064
Email:hcarrico@deephavenmortgage.com
Deep Haven Scenario Desk:
704-628-4109
scenario@deephavenmortgage.com
Nations Scenario Desk:
Susanna Carouthers
Direct: 330-338-7785
suzanna.carouthers@nationslending.com
