Second Mortgage SpringEQ - Nations Branch

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Product

Home Equity

Summary (mandatory)

HELOAN(Home Equity Loan)

Target Borrowers (Mandatory)

Full Doc

Products

Closed ended 2nd Mtg

MAX Loan Amount

500000

Min FICO

640

Max LTV

100% on Stand Alone and 95% CLTV on Combo Purchase and Refinance

Cash Out

Housing History

Bankruptcy

Chapter 7 or 11 BK-4 Years from discharge or dismissal |Chapter 13 BK -2 years from discharge or 4 years from dismissal

Income Doc

Full Doc Only-2 year income

Business Ownership Requirements

W2 and Self Employed

Non- Warrantable Condo

No Questionnaire Required, just need HO6

Calculating Monthly Income

See UW Guidelines

Marketing Tips:

Never have to refer your clients away

Operational Tips:

See Training Material for Registering a loan or ordering an appraisal

Contact info:

Dori Boxberger
480-215-5604
[email protected]

Scenario Desk:

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

Matrix

Underwriting Guidelines

Training

Whole Sale Rates

Website

Calculator

Thanks!

Let's talk! 800-459-7512