It’s essential to stay up-to-date on everything happening within the mortgage industry, and this includes the constantly changing policies, procedures and product offerings of AIME’s Lender Partners. AIME is committed to keeping membership advised of any new lender product offerings and services impacting the wholesale channel as new information is announced and this page will continue to be updated with relevant lender information as it becomes available.

Need assistance signing up with an AIME lending partner? Get connected below.

Friday, September 3

Fundloans

Insignia Jumbo Prime Program

FundLoans’ Insignia suite of Jumbo Prime programs lets you offer up to $3MM on primary, second home, and investment properties. Credit scores starting at 700 and Cash-out available up to 80% LTV.

Thursday, September 2

REMN

Simple Access Non-QM Program for Foreign Nationals

Program Highlights:

  • Asset Qualifier and Investor Cash Flow products are elgible
  • LTV as High as 75%
  • Credit Score as low as 660 (borrowers without a US credit score are elgible)
  • Loan amounts as high as $2,500,000
  • Purchase, Rate and Term Refinance, or Cash Out Refinance
  • 1 Unit Second Homes and 1-4 Unit Investment Properities
  • Foreign liabilities do not need to be documented or included in the underwriting analysis of the file

Monday, August 30

Fundloans

Fundloans Program Updates

  • 40-Year Fixed Fully Amortized rate options on Montage and Apex
  • New and Improved LLPAs for Montage 
  • New and Improved LLPAs for Apex 
  • +0.250 LLPA incentive for Spectrum
  • 4 and 5 Year PPP options on Montage and Apex

Wednesday, August 11

Homepoint

Homepoint has made changes to the Homepoint Wholesale Guide effective August 16, 2021. These changes may affect loan eligibility parameters. 

Changes include:

  • Agency Program
    • Agency Ineligible Transactions
    • Agency Assets & Credits
    • Asset Documentation
    • Personal Gifts
    • Agency Low Income Refinance
    • Low Income Refinance – Loan Qualification
  • FHA Program
    • FHA Borrower Eligibility
    • Ineligible Transactions
    • FHA Streamline Refinance
  • VA Program
    • Ineligible Transactions
    • Manual Underwriting
    • Credit History
  • USDA Program
    • USDA Eligibility Matrices
    • USDA Ineligible Transactions
    • USDA Submission to Rural Development
    • Ratios
    • Debt Ratio Waivers
  • Appraisals & Collateral
    • Property & Transaction Eligibility
    • Ineligible Properties
    • Ineligible Transactions
    • Manufactured Homes
    • Appraisal Topics
  • Underwriting
    • Underwriting: Property & Transaction Eligibility
    • Restrictions on Collateral
    • Escrow/Impound Requirements
  • Non-Delegated & Purchasing
    • Property Taxes & Escrow Reserves

Monday, August 2

Homepoint

Homepoint Announces New Service Model to Assist Mortgage Brokers in Today’s  Purchase Market

In the month of July, Homepoint unveiled its Homepoint Amplify program, a new service model that will unite the wholesale channel’s need for localized support with Homepoint’s national portfolio to allow a mortgage broker to deliver a quicker, more personalized client experience in the current purchase-centric mortgage environment.

Under the Homepoint Amplify service model, it will form six regional support teams aligned with Homepoint’s operational areas across the country—Northeast, Northwest, Central, South, Southeast, and Southwest. Each region will feature specialized teams of underwriter closers, loan coordinators, and loan funders paired up with account executives that already service broker partners in each regional area. 

The regional operational structure of the Homepoint Amplify service model will provide brokers with a streamlined partnership arrangement with personalized specialists meant to create a more collaborative business structure similar to that of smaller mortgage lenders while also providing brokers with all the technology, resources, and capabilities of a large lender.

Thursday, July 29

Fundloans

Fundloans Announces New Program Enhancements

Fundloans has unveiled the following enhancements which include:

  • +0.250 LLPA incentive for Montage Purchase
  • +0.250 LLPA incentive for Apex Purchase
  • +0.250 LLPA incentive for Spectrum
  • 48-hour turn times on submissions

Fundloans is also offering a new Insignia Jumbo A program which includes up to $3MM, 30 and 15-year fixed and ARM terms available, and starts with FICO scores from 700.

Friday, July 23

Guaranty Home Mortgage

Guaranty Home Mortgage Unveils G Lead, Its New Lender Partner Referral Program

Guaranty Home Mortgage’s Latest product offering will optimize the value in assisting its TPO partners to develop strong relationships with their borrowers.  

By using predictive analysis tools, G Lead will identify borrowers serviced by Guaranty that could benefit from a refinance. These details are being shared with the originating TPO Partner so they can continue to maintain and grow their relationship with the borrower.

Thursday, July 22

PRMG

PRMG Removing the Loan Level Pricing Adjustment On All New Locks And New Price Quotes

Based on the FHFA’s decision that Fannie Mae and Freddie Mac will eliminate the Adverse Market Refinance Fee of 50bps for loan deliveries on August 1, 2021, PRMG has announced it will be immediately removing the LLPA on all new locks and new price quotes. 

PRMG states this policy does not necessarily extend to previously locked loans, because these loans are tied to a delivery date, the process to waive the adverse market fee involves a more complicated process.  

For loans where a closing disclosure has been ordered or issued, the lock will remain as is with the AMF in place. For loans locked, where the closing disclosure is not in play the AMF is not going to change unless one makes the decision to adjust the lock with PRMG’s pricing team to confirm the timeline of the specific transaction.

Tuesday, July 20

EPM

EPM To Host Q & A Webinar On the FHA 203(K) Process With Vince Nepolitan Wednesday, August 4th

Register for EPM’s Q & A Webinar discussion of FHA 203(K) Rehab Mortgage Insurance Loan Program featuring Vince Nepolitan, National Renovation Sales Manager at EPM. 

Section 203(k) insurance enables homebuyers and homeowners to finance both the purchase (or refinancing) of a house and the cost of its rehabilitation through a single mortgage or to finance the rehabilitation of their existing home. 

Tune in on Wednesday, August 4th as Vince offers brokers tips and guidance, all through the 203(K) policy and procedure process. 

Register for free: https://aimegroup.co/FHA-QA

Friday, July 16

Homepoint

Homepoint CEO Celebrates National Mortgage Brokers Day And Discusses Real Estate-Related Questions With Independent Mortgage Brokers

Homepoint CEO Phil Shoemaker spoke with the Wealth Solutions Report in support of National Mortgage Brokers Day in order to discuss the benefits of working with independent mortgage brokers.

The questions aligned with many of the top real estate questions from the financial advisors seeking expertise from mortgage brokers throughout the United States. Questions included a discussion about the current market environment and interest rates, price ranges, investment properties, and many other important topics impacting the current marketplace.

The interview is a part of an effort by Homepoint to drive awareness and support for the independent mortgage broker community. National Mortgage Brokers Day is to be celebrated this Sunday, July 18th and will bring together AIME members, lender sponsors, and vendor partners in recognition of their collaborative goal to grow the wholesale channel.

Tuesday, July 13

RCN Capital

RCN Capital Opens New Office In North Carolina

AIME sponsor RCN Capital has opened its new office in Charlotte, North Carolina, in support of the company’s continuing expansion plans.

The new office joins RCN’s already established corporate office in South Windsor, Connecticut and represents the company’s first step in growing its nationwide operations. 

RCN is on pace to pass $1.1 billion in loan originations this year and the company recently originated its 10,000 loans totaling over $2 billion in volume.

Thursday, July 8

AFR

DPA Advantage Offering a No Money Down Solution For Borrowers

In addition to providing down payment assistance in the form of a grant equal to either 2% or 3.5% of the home price on eligible FHA purchases (including OTC and many Renovation loans), AFR’S DPA Advantage program is now offering a no money down option.

This 3.5% grant is able to offer a “no money down” solution, by adding an additional 3% toward closing costs as a lender credit. Borrowers who do not need a “no money down solution” can be offered a lower interest rate. 

What is the DPA Advantage?

AFR’s DPA Advantage is designed to provide down payment assistance to a wide variety of eligible borrowers, like first-time homebuyers, borrowers whose income is equal to or less than 140% of median area income, as well as educators, first responders, and medical personnel.

Additional DPA Advantage benefits include:

·     A completely forgivable grant

·     No second lien on the property

·     No repayment required

·     AFR coordination of application, approval, and wiring of funds

Tuesday, June 29

RCN Capital

RCN Capital recently reduced rates across all of its loan programs. Here are the updated program details:

Ground-Up Construction Loans

  • Term: 18 Months
  • Rates: Starting at 8.25%
  • Loan Size: $50k- $3M
  • Up to 75% of Initial Advance; Up to 90% Total Loan-to-Cost

Short-Term Fix & Flip Loans

  • Term: 12 Months
  • Rates: Starting at 7.49%
  • Loan Size: $50k- $2M
  • Up to 90% of Purchase Price + 100% of Renovation Costs;
  • Not to Exceed 75% of the After-Repair Value

Short-Term Rental Loans

  • Term: 24 Months (12-Month Extension Option)
  • Rates: Starting at 7.49%
  • Loan Size: $50k- $2M
  • Purchase: The Lesser of Up to 80% of the As-Is Value or Up to 80% Loan-to-Cost
  • Refinance: Up to 70% of the As-Is Value
  • Cash-Out: Up to 65% of the As-Is Value

Long-Term Rental Loans

  • Term: 30 Years
  • Rates: Starting at 3.49%
  • Loan Size: $50k- $2M
  • Purchase: The Lesser of Up to 80% of the As-Is Value or Up to 80% Loan-to-Cost
  • Refinance: Up to 80% of the As-Is Value
  • Cash-Out: Up to 75% of the As-Is Value

Homepoint

Homepoint has made changes to the Homepoint Guides Bulletin effective June 30, 2021.

Changes may affect loan eligibility parameters; below you will find updates to loan eligibility standards to various products.

Programs:

  • Fannie Mae
  • Freddie Mac
  • FHA
  • VA
  • USDA
  • Reno

The Agencies have let many of the documentation and/or eligibility flexibilities established last year expire. Remaining temporary requirements include:

  • Documentation for income and assets must be within 60-days of the note date
  • Value and use of market-based assets may be restricted
  • Self-employment may need extra documentation to support stability and receipt as current Income
  • Borrowers that took forbearance protection generally must have resolved and exited forbearance to qualify for new financing

Review the full COVID-19 Policy At-A-Glance to verify the complete requirements that remain by loan program.

Tuesday, June 22

Fundloans

One Week Left – Assets Only Pricing Incentive

Receive an additional +0.625 LLPA on Montage Prime’s Assets Only loan program option. You will not want to miss out on this unique opportunity to provide a superior product to prospective consumers.

Thursday, June 17

AFR

NEW refinance option to help you reach more borrowers

AFR now offers a new refinance option* for homeowners with mortgages owned by Fannie Mae! RefiNow™ allows eligible homeowners to refinance an existing Fannie Mae mortgage with a new Fannie Mae loan.

Specially designed to support lower-income borrowers the most, eligibility requirements include a minimum FICO of 620 and annual income at or below 80% of the area median income (AMI).

Fannie Mae is also providing a $500 pass-through credit if an appraisal is required — and waiving the 50 basis point up-front adverse market fee they normally charge, making refinancing more affordable.

Other program highlights include:

·     Limited cash-out refinances available

·     Maximum LTV up to 97%

·     Fixed-rate terms up to 30 years

·     For primary residences only

PRMG

PRMG Launches New Innovative Training Program!

Register for PRMG University, a webinar series featuring MBS Highway’s Barry Habib and Mortgage Champions’ Dale Vermillion, talking through sales leadership and mentorship. Tune in on Thursday, July 1 as Barry and Dale offer brokers tips on training, mindset, and guidance, all through tactical approaches. 

Register for free: http://aimegroup.co/PRMG-webinar

Tuesday, June 15

EPM

CEO Eddy Perez Live Q&A Event

EPM CEO, Eddy Perez, gives his take on life, business and the mortgage industry. The live question and answer session will be held on June 15th at 2pm EST. Limited seating available, register now: http://aimegroup.co/EP-EPM

What will be covered:

LENDING ENVIRONMENT

What are the three big things to watch in the lending environment? Are you ready for the new rules and regulations?

INDUSTRY TRENDS

What are the trending topics? And what is essential within the industry in today’s world.

ANSWERING YOUR QUESTIONS

Do you have a question? We have an answer for you.

Get connected with EPM by emailing us at partnerships@aimegroup.com.

Thursday, June 10

Homepoint

Fannie Mae’s® New RefiNow™ Product: What Brokers Need to Know Webinar

Thursday, June 10 at 3pm ET | Noon PT

Homepoint is hosting a special Elevate LIVE broker event all about RefiNow. Learn how Fannie Mae’s new refinance program makes it easier for eligible low-income borrowers to secure a lower interest rate and decrease their monthly mortgage payments.

Brokers will learn:

  • Who this program will serve
  • How to determine if a borrower is a fit
  • How the product differs from other refinance products in the market
  • How to work with Homepoint to close more RefiNow loans

EPM

FHA 203K Broker Training Webinar

Join the EPM Team Today AT 1 PM EDT to learn about borrowers qualifying for and advantages of FHA 203(K) Renovation Loans.

Monday, June 7

UWM

NOW THROUGH JUNE 20 2021, 11:59PM EDT, UWM IS OFFERING A PRICE MATCH ON CONVENTIONAL PRIMARY RESIDENCE LOANS.

UWM will match Conventional loans for primary residences with 15 competitors on their 30-, 45-, and 60-day locks versus UWM’s 15-, 30- and 45-day locks.

HOW UWM PRICE MATCHING WORKS

In order for you to request a price match you must show:

  1. Same-day pricing screenshot (within 30 minutes of locking with UWM) showing comparison and including the following loan parameters:
    1. Lender Logo
    2. Product and Term (must be conventional)
    3. Occupancy type (must be Primary Residence)
    4. Rate
    5. Lock period
    6. FICO
    7. LTV
    8. CLTV
    9. Escrow Waiver (Y/N)
    10. Loan Amount
    11. State
    12. Purpose (Purchase/Refi)
    13. Refi Purpose (i.e., Cash-Out)
    14. Property Type (Single family residence, condo, etc.)
    15. Date stamp of screen shot
    16. Final Price to Final Price (not including compensation or UW fee waiver)
  2. Their 30-day lock versus UWM 15-day lock OR their 45-day lock versus UWM’s 30-day lock OR their 60-day lock versus UWMs’ 45-day lock
  3. Confirm that you’ve closed a loan in the last 90 days with one of the competitive lenders
  4. Download and fill out the UWM Price Match form

Then, simply send the following to pricematch@uwm.com within 30 minutes of your UWM lock action:

  1. UWM Price Match form
  2. Price quote screenshot

Look for lock confirmation within 2 business days of form submission.

Please note that UWM price match is for initial locks only and does not apply to lock transfers or relocks. Relocks and changes to program, occupancy, or property type will be subject to worst case pricing.

Email us at partnerships@aimegroup.com to get connected!

Friday, June 4

Homepoint

Homepoint has announced that it will start offering Fannie Mae’s new refinance option, RefiNow, on June 07 to make it easier for homeowners to secure a lower rate and save on their monthly mortgage payments.

In addition to RefiNow, Homepoint said it will provide a maximum $500 appraisal credit for borrowers that are not eligible for an appraisal waiver. The company will also waive the 50-basis point adverse market fee for borrowers with loan balances at or below $300,000.

To qualify for RefiNow, borrowers must have:

  • A Fannie Mae-backed mortgage secured by a one-unit, principal residence.
  • A current income at or below 80% of the Area Median Income (AMI) (not the income as of origination of the original loan).
  • Must not have missed a mortgage payment in the past six months, and no more than one missed mortgage payment in the past 12 months.
  • Have a mortgage with a loan-to-value ratio up to 97%, a debt-to-income ratio of 65% or less, and a minimum 620 FICO score (minimum 660 FICO score for manufactured homes).

Thursday, June 3

AFR Wholesale

Revised Decreasing FICO score minimums
• Effective June 7, 2021, AFR is decreasing the minimum FICO score requirement for AUS approved eligible transactions in the following programs and client channels:

  • Program
    • FHA 203(b)
    • FHA 203(b) Repair Escrow
    • FHA 203(h)
    • FHA GNND
    • FHA $100 Down
    • FHA Hawaiian Homelands
    • FHA OTC
    • VA OTC
    • FHA Streamline
    • VA IRRRL
  • Client Channel and Min FICO
    • Broker – 600
    • Correspondent
      • Table Funded – 600
      • Non-Delegated – 600
      • Delegated – 580
    • Corresponded Delegated – 580
    • Broker – 620
    • Correspondent
      • Table Funded – 620
      • Non-Delegated – 620

Wednesday, June 2

AFR Wholesale

Effective immediately, AFR is suspending their Fannie Mae High LTV and Freddie Mac Enhanced Relief refinance programs.

The GSEs are temporarily pausing the purchase of any High LTV or Enhanced Relief refinance mortgages.

Homepoint

Effective today, Homepoint has made changes to the Homepoint Guides. Changes reflect their Correspondent Guide Bulletin and Wholesale Guide Bulletin. These changes may affect loan eligibility parameters.

Tuesday, June 1

Fundloans

This Month Only – Assets Only Price Incentive 

Through the month of June, receive an additional +0.625 LLPA on Montage Prime’s Assets Only loan program option.

Tuesday, May 25

Fundloans

FundLoans has new and exciting program enhancements that include:

  • Improved pricing on Apex Prime, Montage Prime & Spectrum No Ratio
  • Price Non-QM loan amounts up to $7.5m, instantly with Quick Pricer, designed to give an immediate pricing response
  • Foreign National loan program available with Spectrum
  • 60 months Asset Allowance program option
  • Bitcoin assets eligibility

Tuesday, May 18

Plaza Home Mortgage

Plaza introduces it’s Jumbo AUS Program, simplifying documentation requirements. Program highlights:

  • Loan amounts to $2 million
  • Up to 89.9% LTV
  • 680 FICO
  • 15 & 30 Year Fixed
  • Primary, second home or investment property
  • Purchase, Rate/Term, Cash-out
  • SFR, Condo, PUD, Co-op, 2-4 unites
  • Gift funds allowed and reduced reserve requirements

Monday, May 17

EPM

Effective today, EPM is updating the minimum submission list in order for loans to be sent to underwriting. This comes as an effort to streamline and improve operations efficiency.

Friday, May 14

REMN Wholesale

Access REMN’s Simple Access Program, providing borrowers with the expanded flexibility necessary to meet the needs of borrower’s individual circumstances. Simple Access offers five document types: Investor Cash Flow, Asset Qualified, Bank Statement, 1099 Only, and Full Doc.

Wednesday, May 12

CF Wholesale

CF Wholesale launches their VIVA (Verified Income, Verified Assets) program for TBD preapprovals. CF Wholesale underwriters will sign off on income, assets, and credit making it easier to switch from a preapproval to an application once the borrower has the property address.

Tuesday, May 11

Guaranty Home Mortgage

Guaranty Home Mortgage re-adjusted to a new LOS system that features a state-of-the-art TPO portal for brokers. This is set to officially launch in June.

Monday, May 3

Guaranty Home Mortgage

Guaranty Home Mortgage reintroduces it’s Jumbo program. Program features and highlights:

  • First Time Homebuyer Feature (Primary Only)
  • Rate-term guidelines permit payoff of non-purchase seconds with 24-month seasoning
  • Delaying financing considered rate-term and not subject to cash-out limitations
  • Acreage up to 40 acres
  • Max Loan Amount up to $2 million
  • Cash out and seconds homes up to $1.5 million
  • Max cash out is $500,000
  • In-house underwriting with competitive turn times
  • 720 min FICO score

CF Wholesale

CF Wholesale lowered minimum FICO score on government loans to 580.

Friday, April 30

Guaranty Home Mortgage

Guaranty Home Mortgage transitions current client base to new LOS featuring a TPO portal that will launch in late June.

Longbridge Financial

Participate in Longbridge’s new Reverse Made Easy Training Program. This program provides a full suit of turn-key services and support including full loan processing and closing functions, hands-on training and on going education, and ready-to-use customizable, compliant sales and marketing materials.

Fundloans

Fundloans is offering through the month of May an additional +0.50 bps on Montage Prime’s Assets Only loan program option.

Wednesday, April 28

AFR Wholesale

AFR re-instated the One-Time Close Conventional-to-Permanent Financing. In addition to Conventional OTC offerings, their Construction-to-Permanent suite of OTC financing also includes FHA, VA, and USDA. An OTC loan allows the homebuyer to combine financing for home construction, lot purchase/land payoff, and permanent mortgage into a single closing, helping to reduce time, money, and paperwork.

Monday, April 26

Homepoint

Homepoint made pricing easier with updates to the TPO Pricing Policy, effective April 26, 2021.