It’s Back in a Big Way….Jumbo Loan Programs





          Jumbo...It's back in a Big Way!

          It’s back and better than ever…JUMBO from Nations Direct Mortgage!

          Now your borrowers with big loans don’t have big problems. Nations Direct Mortgage has
          released its Jumbo product with loan amounts to $1,500,000 and pricing that stampedes the competition.

          Should you have any questions regarding this product or any other, please do not hesitate to contact us.

          Nations Direct Mortgage
          http://www.myNDM.com
          (949) 270-7900

          DOWNLOAD RATES

          Product Matrix – Purchase or Rate/Term Refinance
          Occupancy Loan Amt LTV/CLTV Min FICO Reserves
          Owner Occ
          1 unit
          <= $1.0M 80 720 9 months
          70 700 9 months
          > $1.0M – $1.5M 75 720 9 months
          Owner Occ
          2 units
          <= $1.0M 65 700 12 months
          > $1.0M – $1.5M 60 720 12 months
          2nd Home
          1 unit
          <= $1.0M 75 720 12 months
          > $1.0M – $1.5M 70 720 18 months

          Product Matrix – Cashout Refinance
          Occupancy Loan Amt LTV/CLTV Min FICO Reserves Max C/O
          Owner Occ
          1 unit
          <= $1.0M 65 720 9 months $150k

          Product Guidelines
          • Available Products – 30yr/15yr Fixed, 5/1 and 7/1 ARMs (2.25 margins)
          • Minimum Loan Amount – The minimum loan amount must exceed the current High Balance loan amounts established by the FHFA
          • Eligible Properties – SFR, 2 units detached, PUDs, Condos (must meet FNMA warrantability)
          • Appraisal – Can be ordered through an NDM approved AMC and must be dated within 60 days of the submission date. Two appraisals required for loans > $1.0M or underwriter discretion
          • Mortgage/Rental History -
          0x30x24 with no exceptions
          • Debt Ratios – Maximum debt ratio is 43%
          • Soft Market – LTV/CLTV reduced 5% when the appraisal indicates the Neighborhood Section Housing Trends or 1004MC Median Comparable Sales Price shows property values are declining
          • States – Offered in the states that NDM is currently licensed except MA and TX. Please see website for Licensing information

          Please refer to the matrix for full product guidelines

          As a Fannie Mae Direct Seller and Ginnie Mae Approved lender, we have greater flexibility than most lenders with guidelines that open the door to more prosperity for you and your borrowers.

          Nations Direct is not just a lender. We’re your partner for prosperity. We’re continually innovating to offer our partners the highest quality service, the most competitive rates and the most efficient processes in the wholesale lending industry.

           



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