All parameters on each line are used in combination
with one another — each line represents a specific
loan scenario or credit grade
PROGRAM
NAME
Type I E A 45
I=Income
A=Assets 45=4506
V=Verified S=Stated
DOCUMENTATION
O
V
N
P
R
C
FICO
#
UNI TS
E=Employment
OCC PURP
%/$K
%/$K %/$K %/$K FICO
LTV / LOAN AMOUN T
%/$K
Ratio
Venta Financial Group
Conforming Full V V V Y O PRC 1 680
Conforming Full V V V Y O PR 2-4 700
Conforming Full V V V Y VN PR 1 720
Conforming Full V V V Y N P 2-4 720
Conforming Full V V V Y N R 1-4 720
Conforming Full V V V Y O C 2-4 680
Conforming Full V V V Y VN C 1 720
Conforming Full V V V Y N C 2-4 720
Purchase transactions only in TX
8
2
2
80/417
75/417
80/417
75/417
75/417
75/417
75/417
70/417
/
AZ CA CO NV OR TX UT WA
80 NA B N N
75 NA B N N
80 NA B N N
75 NA B N N
75 NA B N N
75 NA B N N
75 NA B N N
70 NA B N N
702-481-6220
www.goventa.com
FNMA limit applies
FNMA limit applies
FNMA limit applies
FNMA limit applies
FNMA limit applies
FNMA limit applies
FNMA limit applies
FNMA limit applies
COMMENTS
Tell lenders you found them in Scotsman Guide
Scotsman Guide makes every attempt to ensure the quality of matrix and directory information, which all listed lenders verify or update monthly. Because of the production cycle and dynamic nature of the industry, loan product
terms and availability may not reflect the latest changes. Please contact lenders directly for the most-recent program details. If you believe data is inaccurate or misrepresented, please e-mail: matrixfeedback@scotsmanguide.com.
« articles »
By Steve Cook
Executive vice president
Reecon Advisors
Leverage Technology Under the New RESPA eve T n logy U de P
With new GFEs, comparative databases are crucial to accuracy and profits
In 2001, then-U.S. Department of Housing and Urban Development (HUD)Assistant Secretaryfor Housing and Federal Housing Commissioner
Brian D. Montgomery said the core
problem with the real estate closing
process was that too many Americans
were signing piles of paperwork they
didn’t understand and paying thousands of dollars for services they may
never have heard of previously.
Nine years later, HUD has completed revisions to the Real Estate
Settlement Procedures Act (RESPA)
to bring the closing process exactly
what Montgomery had in mind — real
transparency, more accountability and
much more certainty. The new regulation also has led to technological advances, without which it would be
virtually impossible for mortgage brokers to meet the demands of the new
RESPA and remain profitable.
Implementation of new good-faith
estimates (GFEs) and HUD-1s began
earlier this year. Although HUD relaxed
enforcement for the first four months of
2010, that ended May 1.
Mortgage brokers must now pro-
vide consumers with closing-cost esti-
mates on which they can rely. As long
as consumers use broker-selected or
-identified providers, title insurance
and certain other costs — including
government recording charges — must
not exceed estimated amounts by a to-
tal of more than 10 percent. In addition,
brokers must now provide GFEs within
three business days of receiving a loan
application or information necessary to
complete an application.
Steve Cook is executive vice president of
Reecon Advisors, an independent economics-consulting firm, and managing editor of the
Reecon Advisory Report, a subscription-based
weekly newsletter covering economics and
government policy. Cook also provides
communications-consulting services and was
vice president of public affairs at the National
Association of Realtors for seven years.
Inman News named him one of the 100 most-influential people in real estate. Reach Cook
at scook@reeconadvisors.com.
