5% reduction in the maximum LTV/CLTV for cash-out refinances for the Jumbo Series H.
ltv update for cash-out in certain california counties
Effective with new registrations on or after August 1, 2019, a 5% reduction in the maximum LTV/CLTV for cash-out refinances will be required for the following counties in California when the credit score is less than 760:
- San Benito
- Santa Clara
cash-out proceeds update
Effective immediately, if the loan application or other documentation reflects that cash-back proceeds are being used to purchase cryptocurrency or other related virtual currently, the loan is ineligible.
Please reference the product profiles for the changes outlined in this announcement.