Wholesale Lending Non-Conforming LTV Matrix (JF30, JF15, JA51, JA71, JA10) Effective Date: 1/20/2015

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Clarence George
10 years ago
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1 PRIMARY RESIDENCE PURCHASE AND RATE/TERM REFINANCE Amount 3 Market Class Max. LTV Max. CLTV Max. LTV Max. CLTV Max. LTV Max. CLTV Max. LTV Max. CLTV Up to $750,000 >$750,000 $1,000,000 >$1,000,000 $1,500,000 >$2,000,000 - $2,500,000 >$2,500,000 - $3,000,000 SFR, PUD, Co-op, Condo with Loan Score >720 Condo with Loan Score < Not listed X MHP 1 70² 70² 70² 70² X MHP 1 70² 70² 65² 65² 1. MHPs (Median Home Prices) are published on Investor s Value Based Median Home Price Classification List (Exhibit 4). Apply the maximum MHP LTV ratios when the combined loan amount exceeds 10 times the subject property s county-level MHP. 2. Max is lesser of 10 times MHP or based on Market Class. 3. Combined loan amount (total of all loans/lines against the subject property) applies when secondary financing exists. 2-Unit 3- to 4-Unit 700 Fixed 720 ARMs

CLTV Up to $750,000 >$750,000 $1,000,000 >$1,000,000 $1,500,000 >$2,000,000 - $2,500,000 >$2,500,000 - $3,000,000 SFR, PUD, Co-op, Condo with Loan Score >720 Condo with Loan Score <720 75 85 1 75 85

2 PRIMARY RESIDENCE CASH-OUT REFINANCE Amount 1 Market Class Max. LTV Max. CLTV Up to $750,000 >$750,000 $1,500,000 SFR, PUD, Co-op, Condo Combined loan amount (total of all loans/lines against the subject property) applies when secondary financing exists. >65% <65% Primary Residence Cash Out Limits $400,000 $500,000 Primary Residence Reserve/PCL Requirements SFR detached/attached Loan Amount/Adjusted Combined Loan Amount 1 Co-op 2-unit 3- to 4-unit Condo Up to $1,000, months PITI 2 12 months PITI 2 >$1,000,000-2,000, months PITI 2 18 months PITI 2 >$2,000,000-4,000, months PITI 2 1. Adjusted combined loan amount (total of all loans/outstanding line balances against the subject property) applies when secondary financing exists (i.e., when subordinate financing is a line of credit, the outstanding balance is used). 2. See Section (a): Borrower Liquidity on investor guides for funds eligible to meet the reserve requirements. 36 months PITI 2

>65% <65% Primary Residence Cash Out Limits $400,000 $500,000 Primary Residence Reserve/PCL Requirements SFR detached/attached Loan Amount/Adjusted Combined Loan Amount 1 Co-op 2-unit 3- to 4-unit

3 SECOND HOME PURCHASE AND RATE/TERM REFINANCE Amount 3 Market Class Max. LTV Max. CLTV Max. LTV Max. CLTV Up to $650,000 >$650,000 $1,000,000 >$1,000,000 $1,500,000 SFR, PUD, Co-op, Condo with Loan Score > MHPs (Median Home Prices) are published on Investor s Value Based Median Home Price Classification List (Exhibit 4). Apply the maximum MHP LTV ratios when the combined loan amount exceeds 10 times the subject property s county-level MHP. 2. Max is lesser of 10 X MHP (Median Home Price) or based on Market Classification (Exhibit 20). 3. Combined loan amount (total of all loans/lines against the subject property) applies when secondary financing exists. Condo with Loan Score < Fixed 720 ARMs

CLTV Up to $650,000 >$650,000 $1,000,000 >$1,000,000 $1,500,000 SFR, PUD, Co-op, Condo with Loan Score >720 1 80 80 80 80 2 80 80 80 80 3 80 80 70 70 4 75 75 65 65 1 75 75 70 70 2 75 75 70 70 3 75 75

4 SECOND HOME CASH-OUT REFINANCE Amount 1 Market Class Max. LTV Max. CLTV Up to $650,000 >$650,000 $1,500,000 SFR, PUD, Co-op, Condo Combined loan amount (total of all loans/lines against the subject property) applies when secondary financing exists. Second Home Cash Out Limits All $350,000 Loan Amount/Adjusted Combined Loan Amount 1 Up to $1,000,000 >$1,000,000-2,000,000 >$2,000,000-4,000,000 Second Home Reserve/PCL Requirements 18 months PITI 2 24 months PITI 2 36 months PITI 2 1. Adjusted combined loan amount (total of all loans/outstanding line balances against the subject property) applies when secondary financing exists (i.e., when subordinate financing is a line of credit, the outstanding balance is used). 2. See Section (a): Borrower Liquidity on investor guides for funds eligible to meet the reserve requirements. SFR detached/attached Co-op Condo

Combined loan amount (total of all loans/lines against the subject property) applies when secondary financing exists.

5 INVESTMENT PROPERTY PURCHASE, RATE/TERM REFINANCE, AND CASH-OUT REFINANCE Investment Property Purchase, Rate/Term Refinance, and Cash-Out Refinance SFR, PUD, Condo Min. Reserves/PCL Requirements Market Class LTV CLTV Amount 1 Loan Score Up to $2,000,000 1 or Loan Amount/Adjusted combined Loan Amount 2 up to $1,000,000: 24 months PITI 3 Loan Amount/Adjusted combined Loan Amount 2 >$1,000,000 to $2,000,000: 30 months PITI Combined Loan amount (total of all loans/lines against the subject property) applies when secondary financing exists. 2. Adjusted combined Loan amount (total of all loans/outstanding line balances against the subject property) applies when secondary financing exists (i.e., when subordinate financing is a line of credit, the outstanding balance is used). 3. See Section (a): Borrower Liquidity on investor s guides for funds eligible to meet the reserve requirements. Investment Property Cash Out Limits All $400,000

combined Loan Amount 2 >$1,000,000 to $2,000,000: 30 months PITI 3 740 1. Combined Loan amount (total of all loans/lines against the subject property) applies when secondary financing exists. 2. Adjusted combined Loan amount (total of all loans/outstanding line balances against the subject property) applies when secondary financing exists (i.

In the absence of a guideline, please refer to the Freddie Mac Sellers Guide.

***In the absence of a guideline, please refer to the Freddie Mac Sellers Guide.*** Freddie Mac Loan Program Summary Product Types Primary Residence Loan Purpose 10Y, 15Y, 20Y, 25Y, and 30Y Fixed; 5/1 & 7/1 ARMs Conforming Balance Minimum FICO 2 Units Max LTV 1 Max CLTV 1 Purchase or