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Matrix: Nonprime First Mortgages
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First National Bank of America NATION WIDE except: CA
800-400-5451 resbrokers@fnba.com www.fnba.com/mortgagebrokers
Alt-A Premier OV PRC 1 Y Y Y Y 48 48 48 0 30 12 680 85 75 680 85 400 55 80 F Alternative doc, DTI up to 55%
Near Miss/ITIN OVN PRC 1-4 Y Y Y Y 0 0 0 U 580 70 25 640 80 400 55 80 F No seasoning on BK and FC
BankStatement OVNPRC 1-4 Y Y Y Y 0 0 0 U 580 70 25 640 80 400 55 80 F 12monthpersonalorbusiness
Jumbo OV PRC 1 Y Y Y Y 0 0 0 U 640 75 401 640 75 6000 55 80 F Loansupto$6M
No seasoning on bankruptcy or foreclosure. DTI up to 55%, LTV up to 85%. Bank statement program for self-employed borrowers. Asset depletion and ready asset loans. Loans up to $6M.
FMC Lending CA
888-297-4440 jp@fundmortgagecapital.com www.fundmortgagecapital.com
Stated Income 1 OVN PRC 1-4 Y Y 0 0 0 450 80 3000 100 1 F Rates start at 7.99%
Stated Income 2 OVN PRC 1-4 Y Y 0 0 0 450 80 2500 100 2 F Rates start at 7.99%
Stated Income 3 OVN PRC 1-4 Y Y 0 0 0 450 80 2000 100 3 F Rates start at 7.99%
No-Doc 1 OVN PRC 1-4 Y Y 0 0 0 80 3000 100 1 F Rates start at 7.99%
No-Doc 2 OVN PRC 1-4 Y Y 0 0 0 80 2500 100 2 F Rates start at 7.99%
No-Doc 3 OVN PRC 1-4 Y Y 0 0 0 80 2000 100 3 F Rates start at 7.99%
A subprime-direct lender. Fund owner & non-owner max 80% LTV. Stated & no-doc, no FICO programs. 1st & 2nd loans. Residential, apartment and commercial in CA. Rates start at 7.99%.
FundLoans AZ CA CO FL OR TX WA
760-388-5888 info@fundloans.com www.fundloans.com
Montage OVN PRC 1-4 Y Y Y Y 36 36 36 1 640 70 10000 680 75 10000 60 75 10 A 5, 7, 10 Exception-based,humanU/W
Icon OV PRC 1-4 Y Y Y Y 0 0 0 1 680 85 3000 600 75 1500 50 85 7 B 5, 7
Spectrum N PRC 1-4 Y Y Y Y 12 12 0 1 660 80 2500 540 70 1000 0 80 7 B 5, 7
Montage: super-jumbo loans from $500K to $10M, non-QM, down to 600 FICO. Icon: bank statement program, loans from $500K to $3M, foreclosures, short sales & BKs OK, down to 600 FICO.
Spectrum: loans from $500K to $3M, foreclosures, short sales & BKs OK, down to 580 FICO.
GreenBox Loans Inc. AZ CA CO CT DE FL GA ID IL LA MD MI MS NC NJ OH OK OR PA TX VA WA
800-919-1086 wholesaleinfo@greenboxloans.com www.greenboxloans.com
1 DayOut Foreclosure OVN PRC 1-4 Y Y Y 12 500 70 1000 580 80 1000 50 80 B 5/1, 7/1 No foreclosure or SS seasoning
Nonprime OVN PRC 1-4 Y Y Y 24 24 24 600 80 1000 680 90 1000 50 90 B 5/1, 7/1 24-month from housing event
12-Mo Bank Statement OV PRC 2-4 Y Y 60 60 60 680 75 2500 720 80 2500 43 80 10 B 5/1, 7/1 12-months bank statements
24-Mo Bank Statement OVN PRC 1-4 Y Y 24 24 24 660 80 1500 720 90 1000 50 90 10 B 5/1, 7/1 24-months, 80% cash-out
24-Mo BSNonprime OVN PRC 1-4 Y Y 12 12 0 580 80 1000 600 80 1500 50 80 B 5/1,7/1 24-monthsbankstatements
Foreign National VN PRC 1-4 Y Y Y 84 84 84 65 2000 70 1000 50 70 10 B 5/1, 7/1 Traditional income doc
Investment N PRC 1-4 Y 24 24 24 640 75 1000 700 75 1000 75 10 B 5/1,7/1 NOO no reserves, no ratios
Investment Income N PRC 1-4 Y Y 36 36 36 620 65 500 700 80 1000 80 10 B 5/1, 7/1 Qualify on rental income
Fund more loans through our proprietary programs and guidelines! Nonprime loans up to $2.5M, minimum 500 credit score. Up to 90% LTV, up to 50% DTI.
This matrix should be used to find detailed criteria for first mortgages that do not meet Qualified Mortgage standards.
Please consult the Nonprime 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; BK=Bankruptcy; FC=Foreclosure;
SS=Short Sale; SE=Self-Employed; VA=Verified Assets; AD=Asset Depletion; I/O=Interest Only; F=Fixed Interest Rate; A=Adjustable Rate Mortage (ARM); B=Both
All parameters on each line are used in combination
with one another — each line represents a specific
loan scenario or credit grade
PROGRAM NAME COMMENTS
O
V
N
P
R
C FICO FICO $K $K LTV% LTV% SE
FULL
DOC BK
#
30s VA FC
#
Days AD SS
#
Months
OCC PURP
FICO/LTV LOAN AMOUNT CREDIT
MON THS
SINCE
MTG LATES
#
UNI TS DTI CLTV ARM TERMS
#
YRS
I/O
Fixed,
ARM,
Both
RATE
D
I
S
P
L
A Y
D
I
S
P
L
A Y
D
I
S
P
L
A Y
D
I
S
P
L
A Y
D
I
S
P
L
A Y
D
I
S
P
L
A Y
