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Product Asset Optimizer (A11)
Summary High Asset Borrower
Target Borrowers High Assets with Low Income (possible retirees with large retirement accts, or Trust Fund borrowers)
Products 5/1 ARM, 7/1 ARM, 15 Yr FRM, 30 Yr FRM 40 year Interest Only available on all
MAX Loan Amount $4M
Min FICO 660 – from all borrowers
Max LTV 80%
Cash Out Yes
Housing History 12 months
Bankruptcy 4 years, 2 years with reduced LTV
Income Doc None
Business Ownership Requirements
Non- Warrantable Condo Yes
Calculating Monthly Income Total all assets divided by 60.  Checking, Savings, Stock, IRA, Retirement, etc – all ok.  Example $1M IRA/60 = $16,600 per month in income.
Marketing Tips: • DTI up to 50%
• Assets do NOT need to be liquidated or tied to the mortgage
• Non-Warrantable/Condotel OK
• 3 months reserves up to $1M
• Cash-out can be used to meet reserve requirement
• Gifts OK
• 1x30x12 OK on mortgage
• 1 appraisal up to $1.5M
• Foreign Nationals permitted
Operational Tips: • No income documentation needs to be submitted.  No tax returns.
• Assets used for income calculation can not be used for reserves.  Separate reserve assets required.
NonQM Profile Category Asset Qualify, No-Income, Foreign National, Investor, Non-Warrantable, Interest Only


Michael Sweeney
Direct: 828-620-8051
Email: Michael.Sweeney@SproutMortgage.com

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