09/24/2026 - Smart Series Guideline Updates

Effective for all pipeline loans, the following updates have been made to the Smart Series Product Summaries.

SmartEdge, SmartSelf, SmartVest and SmartVest Platinum
Reserves

Added the following timeframe to this guideline when reserves are not required. All other requirements still apply.

• Borrower does not have a prior bankruptcy, foreclosure, short sale, DIL, pre-foreclosure, or mortgage charge-off in the most recent seven (7) years from the Note Date.

SmartVest and SmartVest Platinum

Clarification

·    For Interest Only products, calculate reserves using the Interest Only payment plus taxes, insurance, and HOA, if applicable (ITIA).

Resource: AllRegs > Smart Series Non-QM Guidelines > Smart Series Product Summaries