Loans with credit scores less than 750 will require prior approval by the investor.
Non-delegated (prior approval) underwriting
Effective with locks on or after December 2, 2019, loans with credit scores less than 750 will require prior approval by the investor, which will be handled by Underwriting.
For these transactions, the investor requires a credit report from either Corelogic Credco, or Equifax, which must be provided by the Broker.
All other guidelines will remain the same.
Please reference the product profiles for full details.