2 Unit N/A N/A N/A N/A 3-4 Unit N/A N/A N/A N/A 1 Unit/Condo/PUD 85/75 65/65 75/65 N/A Investment Property

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1 Conventional Loan Matrix Documentation Standards All loans must meet standard loan documentation and qualification requirements Exceptions Exceptions to guideline requirements will be made on a case by case basis Minimum Loan Amount $50,000 Products 25/30 Year 20 Year 15 Year 30 Year DU Refi Plus 20 Year DU Refi Plus 15 Year DU Refi Plus 30 Year High Balance 15 Year High Balance Transaction Type Purchase/Rate Term Refinance Cash Out Refinance Maximum LTV/CLTV Property Type Up to $417k FRM/ARM High Balance FRM/ARM Up to $417k FRM/ARM High Balance FRM/ARM Owner Occupied 1 Unit/Condo/PUD 97/90 95/75 80/75 80/60 2 Unit 85/75 75/65 75/65 80/ Unit 75/65 75/65 75/65 N/A 1 Unit/Condo/PUD 90/80 65/65 75/65 N/A Second Home 2 Unit N/A N/A N/A N/A 3-4 Unit N/A N/A N/A N/A 1 Unit/Condo/PUD 85/75 65/65 75/65 N/A Investment Property 2 Unit 75/65 N/A 70/60 N/A 3-4 Unit 75/65 N/A 70/60 N/A DU Eligibility DU Approve\Eligible must comply with DU findings No Manual Underwrite Qualifying Ratios Per DU/LP Credit Scores Full Tri Merged Credit Report (minimum 2 scores) All borrowers must have valid S/S# All borrowers must have open active trade lines No non-traditional credit Minimum Credit Score 620 High Balance minimum score 620 Eligible Borrowers US Citizens Permanent Resident Aliens Non-Permanent Resident Alien Down Payment 1 unit properties do not require 5% down payment from borrower. All funds can come from acceptable gift sources. 2-4 unit properties require a minimum 5% from borrower s own funds. Gift funds permitted after 5% down payment has been met. Gift funds not permitted on Investment Property purchase treated like an inducement and deducted dollar for dollar from the sales price for purposes of calculating LTV Seller Assist/ICP Standard FNMA guidelines apply. Seller side disbursements are examined closely. All real estate commissions and non-lien related expenses (marketing expense, finder s fee, referral fees, consulting fees) must not exceed 8% of the sales price. Any combination of these disbursements exceeding 8% will treated like an inducement and deducted dollar for dollar from the sales price for purposes of calculating LTV MAM Conventional Loan Matrix P a g e 1 03/30/2015

2 Conventional Loan Matrix Non Owner Occupied LP only Co-borrower Bankruptcy and/or BK Discharge must be seasoned 4 years Foreclosure Foreclosure must be seasoned 7 years Short sale charge off must be seasoned 7 years Property Type The following property/occupancy types are permitted 1-4 unit residences (no manufactured housing) Condominiums Townhouse PUD Number of Financed 5-10 Financed Properties Permitted Properties Mid America Mortgage will not extend more than 4 loans to any one individual 4506T Required on all files. Cash Out A loan is defined as cash out if the amount exceeds $2000 or 2% of the loan amount. Non purchase money seconds are considered cash out. Previous note date must be greater than 6 months from application date Properties Flipping Follow FNMA Guidelines Temporary Buy downs Not Permitted Mortgage Insurance Mortgage insurance is required on all loans over 80% LTV Financed Single Premium not permitted Reserves Must meet AUS DP Assistance Down payment programs are not permitted Appraisals Appraisals must be ordered via an approved Mid America Mortgage (AMC) Properties Listed For Sale On any refinance transaction, property may not be listed for sale at time of application. For cash out transactions, if listed for sale within the last 6 months, the property must be taken off the market prior to application date and the max LTV/CLTV is 70% Non Arm s Length Transactions Flip transactions are not permitted. Family transfers/title changes examined closely. Eligible States Eligible in all Mid America Mortgage licensed states MAM Conventional Loan Matrix P a g e 2 03/30/2015

3 FHA Loan Limit Look Up (Loan must meet FHA loan Limit ) Products 30 Year 15 Year 5/1 ARM 30 Year High Balance Documentation All loans must meet FHA standard documentation and qualification Exceptions Minimum Loan Amount $50,000 Maximum LTV/CLTV (for case # s assigned on or after 01/01/2012) requirements Exceptions to guideline requirements will be made on a case-by-case basis with management approval FHA Loan Matrix LTV/CLTV Purchase Rate & Term Refi Cash-out Refi LTV 96.5% 97.75% 85% CLTV 96.5% 97.75% 85% DU Eligibility DU Approve\Eligible must comply with DU findings Manual Underwrite permitted on a case-by case basis w\ Sr. management approval UFMIP must be 100% financed or paid entirely in cash, partial financing not permitted Term > 15 Years Term 15 Years Base Loan LTV MIP (Upfront & Base Loan LTV MIP (Upfront & UFMIP /Annual MIP Annual) Annual) $625, % 175 / 80 $625, % 175/45 $625,500 > 95.00% 175 / 85 $625,500 > 90.00% 175 /70 > $625, % 175 / 100 > $625, % 175 /45 > $625,500 > 95.00% 175 / 105 > $625, % % 175 /70 > $625,500 > 90.00% 175/ 95 Qualifying Ratios Per DU Credit Scores Full Tri Merged Credit Report All borrowers must have valid S/S# No Score transactions will be manually underwritten (refer to Mortgagee Letter 08-11) Purchases + Rate & Term Refi minimum score 580 Cash Out Refi minimum score 640 High Balance minimum score 620 Eligible Borrowers US Citizens Permanent Resident Aliens Non-Permanent Resident Aliens per FHA guidelines Non-Owner Occupied Co-Borrowers Follow FHA Guidelines Bankruptcy and\or BK Discharge must be seasoned 2 years Foreclosure F\C must be seasoned 3 years 4506T Required on all files. MAM FHA Loan Matrix P a g e 1 03/30/2015

4 FHA Loan Matrix Eligible Property\Occupancy Types\States Number of Financed Properties Properties listed for sale Temporary Buy downs Layered Risk The following property/occupancy types are permitted 1-4 unit primary residences 1 unit Condominiums must be on FHA approved condo list Eligible in all states Mid America Mortgage is licensed No More than four (4) including the subject Per FHA Not Permitted Underwriter to evaluate all factors in determining loan decision MAM FHA Loan Matrix P a g e 2 03/30/2015

5 FHA Loan Limit Look Up (Loan must meet FHA loan Limit ) Products 30 Yr. Streamline Without Appraisal 15 Yr. Streamline Without Appraisal Documentation All loans must meet FHA standard documentation and qualification requirements Exceptions Exceptions to guideline requirements will be made on a case-by-case basis with management approval Minimum Loan $50,000 Amount Maximum LTV/CLTV Score FHA Streamline Loan Matrix To $417K High Balance 620 min To $417K High Balance To $417K High Balance To $417K High Balance 97.75/125(1) 97.75/125(1) 97.75/ / / / / /125 1 AMV required on Streamlines with score under 640 Underwriting Manually Underwritten No AUS Qualifying Ratios None Credit Scores See above matrix Eligible Borrowers US Citizens Permanent Resident Aliens Non-Permanent Resident Aliens Per FHA guidelines Subordinate Financing Existing Subordinate financing acceptable to max financing Bankruptcy and\or BK Discharge must be seasoned 2 years Foreclosure F\C must be seasoned 3 years Eligible Properties The following property/occupancy types are permitted 1-4 unit primary residences (no manufactured housing) PUDs 1 unit Condominiums must be on FHA approved condo list Number of Financed No More than four (4) including the subject Properties Properties listed for Loans listed for sale at time of application are ineligible sale Temporary Buy downs Not Permitted Cash out Cash out is not permitted. Incidental cash out to $500 Mortgage Insurance Refer to MIP Matrix MAM FHA Streamline Loan Matrix P a g e 1 03/30/2015

6 VA Loan Matrix Documentation All loans must meet standard VA loan documentation and qualification requirements Products 30 Year Fixed 15 Year Fixed Exceptions Exceptions to guideline requirements will be made on a case-by-case basis with management approval Minimum Loan Amount $50,000 Maximum LTV/CLTV Property Type 620+ Fico Purchase All 100/ /100 Rate/Term All 100/ /100 Cash Out All 100/ /100 AUS DU/LP must comply with AUS findings Manual Underwrite made case by case Qualifying Ratios Maximum 60% with AUS Approval. Must meet residual Credit Scores Full Tri Merged Credit Report (minimum 2 scores) All borrowers must have valid S/S# No non-traditional credit Minimum Credit Score 600 High Balance minimum score 640 VA Guaranty The VA Guaranty plus cash/equity must be equal to at least 25% of the purchase price or Notice of Value (NOV) whichever is less High Balance High balance loans are permitted with restrictions. LTV Restrictions may apply based on available entitlement, equity/cash down. Loan limits: Bankruptcy and/or BK Discharge must be seasoned 2 years Foreclosure F\C must be seasoned 2 years Seller Assist Permitted on all allowable VA fees plus maximum of 4% of sales price DAP Assistance Down payment Assist Programs are acceptable, however source must be government entity (Non Profit not permitted). DAP not available on high balance Subordinate Financing New Subordinate financing is permitted on purchase transactions with down payment assistance only, max 100 CLTV. Existing new subordinate financing is acceptable on refinance transactions to max CLTV published above Temporary Buydowns Not Permitted Reserves As per VA guidelines Residual Guidelines All VA Loans must meet residual requirements as per VA guidelines. Loans with DTI >41% must meet 120% of required residual income. Mortgage/Rent History Must meet AUS Occupancy Owner Occupied Primary residences only Property Types 1-4 Unit Dwellings Townhomes Row homes PUDS VA Approved Condominiums MAM VA Loan Matrix P a g e 1 03/30/2015

7 VA Loan Matrix Condominiums Must be located in VA Approved Condominium Project Mortgage Insurance Refer to MIP Matrix Appraisal Appraisals are order via WebLGY Portal. Mid America Mortgage SAR will issue NOV. Escrows Taxes and insurance escrows are required Eligible States Eligible in all Mid America Mortgage licensed states MAM VA Loan Matrix P a g e 2 03/30/2015

8 Documentation Exceptions VA IRRRL Loan Matrix All loans must meet standard VA loan documentation and qualification requirements Exceptions to guideline requirements will be made on a case-by-case basis with Sr. management approval Minimum Loan Amount $50,000 Products 30 Year Fixed 15 Year Fixed FICO Maximum LTV/CLTV Mortgage History Valuation Method Owner Occupied 620+ n/a Per VA Original Loan Balance Non Owner Occupied 620+ n/a Per VA Industry Standard AVM (3) (2,4) 100% Per VA Industry Standard AVM (3) Owner Occupied Only & Up to $417K 1. All IRRRLs require a Verbal Verification of Employment 2. Loan amounts > $417,000 not eligible with credit score less than If no AVM Hit, a 2055 or full appraisal must be used to determine value 4. Investment Properties not permitted for credit scores less than 620 Underwriting Properties Listed for Sale Credit Scores VA Guaranty High Balance Bankruptcy and\or Foreclosure Subordinate Financing Temporary Buy downs Reserves Occupancy Property Types Condominiums Manually Underwritten no AUS Loans listed for sale at time of application are ineligible on refinance transactions See minimum credit scores above IRRRL Transaction not subject to any additional entitlement requirements High balance loans are permitted however max base loan amount before funding fee is $1,000,000 BK Discharge Chap 7 2 yrs./ Chap 13 discharged F\C must be seasoned 2 years Existing subordinate financing is acceptable to max CLTV published guidelines Not Permitted Not Permitted Owner Occupied Primary residence. Non Primary residence may be permitted per VA guidelines. If subject is not currently a primary residence, then borrower must certify that they previously occupied the residence. 1-4 Unit Dwellings Townhomes PUDS Row homes VA Approved Condominiums No additional Condominium on VA IRRRL Transactions Mortgage Insurance IRRRL Funding fee 0.50% Cash Out Max $500 cash back to borrower at closing Appraisal No AVM required with 620 FICO score and Owner occupied. Escrows Taxes and insurance escrows are required Seasoning Six months on current loan Eligible States Eligible in all Mid America Mortgage licensed states MAM VA IRRL Loan Matrix P a g e 1 03/30/2015

9 Documentation Exceptions Owner Occupied Only USDA Rural Loan Matrix All loans must meet standard conventional loan documentation and qualification requirements Exceptions to guideline requirements will be made on a case-by-case basis with Sr. management approval Property Type Up to $417K High Balance SFR Detached 102/102 NA SFR Attached 102/102 NA Condo/Townhouse 102/102 NA Fixed: 30 Yr. only 600 Minimum FICO score Eligible Terms/Product Underwriting All loans are run through GUS (Guaranteed Underwriting System). Must be located in an eligible location Accept/Eligible and Manual underwriting allowed Credit Score Lower of 2 or Middle of 3 repositories. Down Payment No minimum down payment required Seller Assist/IPC Maximum 6% of sales price DAP Assistance Borrowers who choose to make a down payment may use a Government or Municipal Down Payment Assistance Program (DAP). Subordinate Financing Not Permitted. Reserves No Reserve requirements. Mortage/Rent History Follow GUS Findings. Occupancy Owner Occupied Primary residence only. Debt to Income Ratio Must maintain Gus Accept Findings typically maximum 43% DTI Bankruptcy Minimum 2 Years discharged if a result of extenuating circumstances. Minimum 3 Years discharged if a result of financial mismanagement. Multiple Bankruptcies are not permitted. Foreclosure Minimum 3 Years completed. Delinquencies since Foreclosure discharge will be scrutinized and may result in an ineligible loan. Property Types Single Family Attached and Detached, Condo, PUD Condominium Condominium must be currently approved by Fannie Mae, Freddie Mac, VA or HUD (FHA). Mortgage Insurance 2.75% Up front guarantee Fee as of 10/1/15,.50% Annual Fee Cash out Not applicable. Program is available on Purchases/ Rate and Term only. Appraisal Full Appraisal is required. Appraisals must be ordered via an approved Mid America Mortgage (AMC) Escrows Escrow of Tax, Insurance and MIP are required on all loans. Number of Financed Properties Borrower may own additional property however the other property must be deemed inadequate (increased family size, family needs, and safety hazards) or other property must be more than 50 miles away from the subject Must be an Arm s Length transaction. Non Arm s Length Transactions Eligible States Eligible in all Mid America Mortgage licensed states. HPML Permitted with max 43 DTI, may not waive 3 day right to review appraisal, must be disclosed homeownership counseling disclosure and HPML second appraisal guidelines apply. MAM USDA Rural Loan Matrix P a g e 1 03/30/2015