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Table 1 of 3

Product Smart Edge & Smart Edge Plus SmartTrac Full Doc
For Borrowers Who: Are unable to secure tradition- al lending Have suffered a recent isolated derogatory event
Max LTV 95% P/RT, no MI
Plus: 85% w/derog
80% CO, no MI
Plus: 80 % w/derog
85% Purch/RT
80% Cash Out
Max DTI 50% 50%
W2 Current Paystub Yes Yes
Tax Returns – 4506t Yes Yes
Derogatory Credit Seasoning 4yrs (Plus Program:
2-4yrs)
BK, SS, DIL:
12mo.
Mortgage History 1x30x12
(95% LTV & Plus:
0x30x12)
Multiple 30s OK 0x60x12
Asset Amortization Allowed Allowed
Max Cash Out $1M $1M
Use Cash for Reserves Yes (Plus Program Only) No
Minimum FICO 620 620
Financed Properties  Up to 15 Up to 15
Loan Terms Fixed 30,ARM 5/1, 7/1, 10/1 withoptionalInterestOnly;Fixed40InterestOnly(ExcludingSmartVest) Fixed 30,ARM 5/1, 7/1, 10/1 withoptionalInterestOnly;Fixed40InterestOnly(ExcludingSmartVest)
Pre-Pay Penalty None None

Table 2 of 3

Product SmartSelf & SmartSelf Plus Alt Doc SmartVest No DTI Calc
For Borrowers Who: Qualify with 12 mo. bank statements Are experienced real estate investors
Max LTV 90% P/RT, no MI
85% Cash Out
80% Purch/RT
75% Cash Out
Max DTI Not Calculated Not Calculated
W2 Current Paystub No No
Tax Returns – 4506t No No
Derogatory Credit Seasoning 4yrs (Plus Program:
2-4yrs)
4yrs
(2-4yrs with restrictions)
Mortgage History 1x30x12
(Plus Program: 0x30x12)
0x30x12
Asset Amortization Allowed NA
Max Cash Out $1M $1M
Use Cash for Reserves Yes (Plus Program Only) No
Minimum FICO 620 620
Financed Properties  Up to 15 Up to 20
Loan Terms Fixed 30,ARM 5/1, 7/1, 10/1 withoptionalInterestOnly;Fixed40InterestOnly(ExcludingSmartVest) Fixed 30,ARM 5/1, 7/1, 10/1 withoptionalInterestOnly;Fixed40InterestOnly(ExcludingSmartVest)
Pre-Pay Penalty None None

Table 3 of 3

Product SmartFunds Asset Qualifier SmartCondo Non-Warr. Condos & Condotels
For Borrowers Who: Qualify using eligible assets Condo doesn’t meet agency guidelines
Max LTV 90% Purch/RT
85% Cash Out
90% Purch/RT
(Condotel: 80%)
80% Cash Out
(Condotel: Not Permitted)
Max DTI Not Calculated 45%
W2 Current Paystub No Yes
Tax Returns – 4506t No Yes
Derogatory Credit Seasoning BK, FC, SS, DIL:
4yrs
BK, SS, DIL: 4yrs
FC: 5yrs.
Mortgage History 1x30x12: P/RT
0x30x12: CO
0x30x12
Asset Amortization Asset Qualification Allowed
Max Cash Out $1M $500k
Use Cash for Reserves No No
Minimum FICO 680 660
(Condotel: 680)
Financed Properties  Up to 15 Up to 10
Loan Terms Fixed 30,ARM 5/1, 7/1, 10/1 withoptionalInterestOnly;Fixed40InterestOnly(ExcludingSmartVest) Fixed 30,ARM 5/1, 7/1, 10/1 withoptionalInterestOnly;Fixed40InterestOnly(ExcludingSmartVest)
Pre-Pay Penalty None None

New Rez:

Sarah DcDowell
Direct: 318-502-2255
[email protected]

Contact info:

Patricia Lantz
337-412-7096
[email protected]

NewRez Scenario desk:

email [email protected] and [email protected] (always CC Goldman)

NewRez Condo Review Team:

email [email protected] and [email protected] (always CC Goldman)

Scenario Desk:

Susanna Carouthers
Direct: 330-338-7785
[email protected]

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