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Announcement 2019-068: Jumbo Series H Updates

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:

  • Marin
  • San Benito
  • Santa Clara
  • Sonoma

 

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.