Matrix: Prime First Mortgages
Post your loan: ScotsmanGuide.com/LoanPost Search matrix: ScotsmanGuide.com/Prime1st
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: firstname.lastname@example.org.
PRMG - Paramount Residential Mortgage Group NATION WIDE except: NY W Y
Platinum Full V V V Y O PR 1-4 720 70/2500 680 65/1500 39 0 NA B
HomeReady Full V V V Y O PR 1-4 620 97/453 50 0 NA B 95% R/T; ARM/2-4 lower LTV
High Balance Full V V V Y O PR 1-4 620 95/871 50 0 NA F Units avail w/lower LTV
AgencyDUPortfolio Full V V V Y O P 1 620 97/453 50 0 NA F Restrictionsapply
Agency DU Portfolio Full V V V Y O PR 1 0 90/453 0 NA Non-traditional credit
Expanded Access Full V V V Y OVN PRC 1-4 680 90/1000 75/2500 580 80/1000 55 10 8 B 5/1, 7/1 Bank Stmts & No Seasoning
Niche Full V V V Y OV PRC 4 745 90/2000 660 90/3000 43 0 NA B Options to 580 & no seasoning
Fixed 2nds Full V V V Y OV PR 4 720 95/500 680 85/500 43 0 NA F Piggyback 2nd w/ PRMG 1st
PRMG is a national leading lender! "Built by Originators for Originators." We deliver big on jumbo-purchase, agency-conforming/high-balance and conventional loan products with a high focus on providing the best pricing and service!
This matrix should be used to find detailed program criteria for first mortgages only.
Please consult the Prime Niches matrix for other program/product information or unusual property/loan characteristics.
LEGEND: P=Purchase; R=Rate and Term Refi; C=Cash-Out Refi; O=Owner-Occupied; V=Vacation Home; N=Non-Owner-Occupied; NINA=No Income, No Asset;
SISA=Stated Income, Stated Asset; SIVA=Stated Income, Verified Asset; I/O=Interest Only; F=Fixed Interest Rate; A=Adjustable Rate Mortgage (ARM); B=Both
with one another — each line represents a specific
loan scenario or credit grade
Type I E A 45
C FICO %/$K %/$K %/$K FICO
F/A/B ARM Terms
LTV / LOAN AMOUN T
Combinations tied to different scores
DTI LTV / LOAN AMOUN T
UNITS PROGRAM NAME
Marketing with precision
Being able to tap into actionable behavioral data
will enable lenders to more appropriately provide
consumers with the information they are seeking
when they prefer to receive it. That allows originators
to deliver an improved consumer experience and
encourage a higher level of engagement.
The National Association of Realtors recently published a study featuring statistics about homebuyers
broken down by generation. It’s no surprise that the
millennial generation now makes up the majority of
homebuyers and will only continue to grow over the
next several years.
Millennials have higher expectations when shopping, whether for a car, insurance or a mortgage.
They want the seller to understand and deliver what
they’re looking for in as few clicks as possible.
As they begin their homebuying quest, most aren’t
looking to complete a mortgage application. They’re
primarily interested in information about the process
as a whole, tips to become savvy buyers, and a better
understanding of the financial commitment that will
be required for a downpayment and ongoing monthly
payments. Simply put, they’re educating themselves
and see originators as a source of the information.
The challenge originators face today is that most only
have access to a moment-in-time view of borrower
interest. When a borrower inquires via a web form or
engages with an e-mail, for example, only a quick
glimpse of the potential client is revealed, and it’s
difficult to understand where they are in their journey.
Marketing based on these moment-in-time indicators, called lead-based marketing, has become
antiquated. By accessing behavioral data, the view
becomes much clearer and holistic — allowing originators to market to borrowers in a much more
appropriate manner. This approach, called people-based marketing, is marketing with precision and
guides borrowers through a smooth journey to their
destination of homeownership.
A better strategy
Understandably, for most originators, people-based
marketing seems like an overwhelmingly difficult
strategy to implement, absent a team of marketers
at their disposal. Third-party data-as-a-service companies, however, can make accessing behavioral data
simple. With thousands of data points available, they
will comb through the ocean of data and deliver
basic actionable outputs.
Because each originator is different in how they
ingest data and the marketing tools at their disposal,
it is recommended that organizations find a data
company that has expertise in financial services.
The data company also should be able to assist
through the onboarding process using a consultative
approach and put a go-to-market strategy in place
to help deliver positive results.
As a point of comparison, acquiring refinance
leads is similar to a sprinter in the Olympics running
the 100-meter dash. Sprinters have more fast-twitch
muscles, and the quickest out of the starting blocks is
typically the winner. Acquiring home-purchase leads,
by contrast, is more like running a marathon, and there
are no starting blocks. The marathon athlete has a
completely different strategy than the sprinter.
Likewise, home-purchase leads require a completely different strategy. It’s well worth taking the
time to explore what information is available and
how it can assist in your goal of closing more home-purchase loans. ■
“By accessing behavioral data, the view
becomes much clearer and holistic —
allowing originators to market to
borrowers in a much more appropriate