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American_Lending_Green_Investor_-_Fannie_Mae_DU_Refi_Plus

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					                                                                                   Fannie Mae DU Refi Plus
                           Loan being refinanced must have been sold to Fannie Mae.

 Full Documentation                                                                                                            Fully Amortizing
                                                                       1
                                         PRIMARY RESIDENCE –RATE/TERM REFINANCE
                                                                                                                               Minimum
                              Minimum            Maximum               Maximum           Underwriting Engine &                  Credit        Product
     Property Type              LTV                LTV                  CLTV              Required Response                     Score          Type
                                                                                                                                             Fannie Mae
                                                125%     (Green                2                                    5                   3    125% LTV
                               105.01%         Investor serviced
                                                                           None                Approve/Eligible                  None         DU Refi
• 1- to 4-unit                                 loans only)                                                                                      Plus
                                                                                                                                                     9
                      8
• Warrantable condo                                                                                                                          Fannie Mae
                                                                               2                                    5                   3
• PUD                           90.01%               105%                  None                Approve/Eligible                  None         DU Refi
• Manufactured home                                                                                                                             Plus
  (double-wide)
               4                                                                              Approve/Eligible,                              Fannie Mae
                                                                               2          EAI/Eligible, EAII/Eligible,                  3     DU Refi
                                  n/a                 90%                  None                              56                  None
                                                                                           or EAIII/Eligible (EA –                              Plus
                                                                                            Green Investor serviced loans
                                                                   7
                                                SECOND HOME – RATE/TERM REFINANCE                                           Green Investor serviced loans
                                                only
                                                                                                                                             Fannie Mae
                                                                               2                                    5                   3
                                90.01%               105%                  None                Approve/Eligible                  None         DU Refi
• 1-unit                                                                                                                                        Plus
                      8
• Warrantable condo                                                                           Approve/Eligible,                              Fannie Mae
• PUD                             n/a                 90%                  None
                                                                               2          EAI/Eligible, EAII/Eligible,           None
                                                                                                                                        3     DU Refi
                                                                                                             56
                                                                                           or EAIII/Eligible (EA –                              Plus
                                                                                            Green Investor serviced loans
                                                                           7
                                        INVESTMENT PROPERTY – RATE/TERM REFINANCE                                           Green Investor serviced loans
                                        only
                                                                                                                                             Fannie Mae
                                                                               2                                    5                   3
                                90.01%               105%                  None                Approve/Eligible                  None         DU Refi
• 1- to 4-unit                                                                                                                                  Plus
                    8
• Warrantable condo                                                                           Approve/Eligible,                              Fannie Mae
• PUD                             n/a                 90%                  None
                                                                               2          EAI/Eligible, EAII/Eligible,           None
                                                                                                                                        3     DU Refi
                                                                                                             56
                                                                                           or EAIII/Eligible (EA –                              Plus
                                                                                            Green Investor serviced loans
                                                                                                       only)
1. Texas 50(a)(6) loans are limited to 80% LTV/CLTV. Refer to TEXAS REFINANCES section below.
2. All existing subordinate financing must be re-subordinated. New subordinate financing not allowed.
3. No minimum credit score requirement. However, credit report must be submitted.
4. Manufactured homes are not acceptable in Colorado, Illinois, Kentucky, Louisiana, Missouri, New York, Pennsylvania, Texas, or the US Virgin
   Islands.. Manufactured home loans are restricted to rate and term refinance of a Green Investor serviced loan. Refinances of loans not currently
   serviced by Green Investor are not eligible.
5. An Ineligible response due to loan amount will be acceptable until DU is updated in a future enhancement.
6. Expanded Approval response on the new loan is not eligible if existing loan is not serviced by Green Investor.
7. Existing loans not serviced by Green Investor are not eligible if second home or investment property.
8. Condos in Florida or Arizona are not eligible if existing loan is not currently serviced by Green Investor.
9. Only eligible if existing loan is currently serviced by Green Investor. Non-Green Investor serviced loans are limited to 105% LTV.


P R O G R A M S UMMA R Y: Fixed and adjustable-rate and term, fully amortizing, conventional conforming firs t
lien mortgage loan program. Loan being refinanced must have been sold to Fannie Mae.




                                    5199 East Pacific Coast Highway, Suite # 410, Long Beach, CA 90804
                                  Tel: (562) 719-2053 - Facsimile: (562) 719-2048 - Toll Free: (877) 474-8111
                                                        www.AmericanLendingInc.Com
                                                            Updated on: 5/12/2011
                                                                              Fannie Mae DU Refi Plus


PRODUCTS OFFERED
                       Product Name                                 Term           Disclosure         Manufactured     Non-Green
                                                                                                        Housing         Investor
                                                                                                       Allowed?      serviced loans
• Fannie Mae DU Refi Plus 30-Year Fixed                            30 years             n/a                   Yes         Yes
• Fannie Mae DU Refi Plus 20-Year Fixed                            20 years             n/a                   Yes         Yes
• Fannie Mae DU Refi Plus 15-Year Fixed                            15 years             n/a                   Yes         Yes
• Fannie Mae DU Refi Plus 10-Year Fixed                            10 years             n/a                   Yes         Yes
• Fannie Mae DU Refi Plus 5/1 LIBOR ARM                            30 years         Doc. #3362                No          Yes
• Fannie Mae DU Refi Plus 30-Year Fixed LPMI w/Genworth            30 years             n/a                   Yes         No
• Fannie Mae DU Refi Plus 20-Year Fixed LPMI w/Genworth            20 years             n/a                   Yes         No
• Fannie Mae DU Refi Plus 15-Year Fixed LPMI w/Genworth            15 years             n/a                   Yes         No
• Fannie Mae DU Refi Plus 5/1 LIBOR ARM LPMI w/Genworth            30 years         Doc. #3362                No          No
• Fannie Mae 125% LTV DU Refi Plus 30-Year Fixed                    30years             n/a                   Yes         No
• Fannie Mae 125% LTV DU Refi Plus 25-Year Fixed                   25 years             n/a                   Yes         No
• Fannie Mae 125% LTV DU Refi Plus 20-Year Fixed                   20 years             n/a                   Yes         No
• Fannie Mae 125% LTV DU Refi Plus 30Yr Fix LPMI w/Genworth         30years             n/a                   Yes         No
• Fannie Mae 125% LTV DU Refi Plus 25Yr Fix LPMI w/Genworth        25 years             n/a                   Yes         No
• Fannie Mae 125% LTV DU Refi Plus 20Yr Fix LPMI w/Genworth        20 years             n/a                   Yes         No


LOAN AMOUNTS
  MAXIMUM:                   Maximum conforming loan limits for 1- to 4-unit property, including high balance loan
                            limits. Refer to EXHIBIT A for complete list of high-cost areas eligible. Genworth LPMI
                            loans are limited to $417,000, regardless of property location or number of units.
    MINIMUM:                $20,000.

LOAN REGISTRATION
  When Mortgage Insurance is not required on a loan with an LTV exceeding 80% (See MORTGAGE
  INSURANCE section below), select “MI NOT REQUIRED” when asked to select a mortgage insurance
  option.

ELIGIBLE PROPERTY TYPES
   • 1- to 4-unit properties
   • Fannie Mae-eligible condominiums (Project must be currently eligible, or eligible at time original loan
      closed. Condo questionnaire is required when property is second home or investment.)
   • Planned unit developments (PUDs)
   • Manufactured homes

INELIGIBLE PROPERTY TYPES
   • Non-Fannie Mae-eligible condominiums
   • Cooperative properties

MINIMUM CREDIT SCORES
   None.


                                  5199 East Pacific Coast Highway, Suite # 410, Long Beach, CA 90804
                                Tel: (562) 719-2053 - Facsimile: (562) 719-2048 - Toll Free: (877) 474-8111
                                                      www.AmericanLendingInc.Com
                                                          Updated on: 5/12/2011

				
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