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Announcement 2019-020: Jumbo Series H_Wholesale Underwriting Clarification

Updates are being made to Jumbo Series H to align with investor's requirements.

Summary

Updates are being made to align with the investor's requirements.

 

Underwriting

The requirement to upload the file to the investor's proprietary feedback tool, DirectExpress, has been removed from "Section 1.2 Underwriting" of the Jumbo Series_Wholesale product profile. Additionally, this section has been updated to state the credit approval decision has been delegated to the NewRez underwriter and the investor will remain responsible for the validation of the appraised value.

 

Please refer to the Product Profiles page for full product details.