; DU-Refi-Plus-Matrix
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DU-Refi-Plus-Matrix

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									                                                                                              DU REFI PLUS
                                                                                                                                                                      Revised (3/22/2012)
                                                       Conforming (DU REFI PLUS)                                                         High Balance (DU REFI PLUS JUMBO)
     Property Type               Maximum Loan                                                                        Maximum Loan
                                                           LTV          CLTV          HCLTV        Min. Fico                                    LTV               CLTV          HCLTV          Min. Fico
                                    Amount                                                                              Amount
Primary Residence                                                                                                 Primary Residence
         1 Unit                      $417,000             100%           100%          100%           640                $729,750               100%              100%           100%             640
         2 Units                     $533,850             100%           100%          100%           640                $934,200               100%              100%           100%             640
         3 Units                     $645,300             100%           100%          100%           640               $1,129,250              100%              100%           100%             640
         4 Units                     $801,950             100%           100%          100%           640               $1,403,400              100%              100%           100%             640
Second Home                                                                                                       Second Home
         1 Unit                      $417,000             100%           100%          100%           680                $729,750               100%              100%           100%             680
Investment Property                                                                                               Investment Property
         1 Unit                      $417,000             100%           100%          100%           680                $729,750               100%              100%           100%             680
         2 Units                     $533,850             100%           100%          100%           680                $533,850               100%              100%           100%             680
         3 Units                     $645,300             100%           100%          100%           680                $645,300               100%              100%           100%             680
         4 Units                     $801,950             100%           100%          100%           680                $801,950               100%              100%           100%             680


Required                                                                                                          Mortgage Insurance
      a. Complete and Signed 4506-T for all loans                                                                 > If original transaction LTV was <=80%, mortgage insurance is not required on new loan.
      b. Tax Return Transcripts                                                                                   > If original transaction LTV was > 80% and mortgage insurance was previously cancelled
                   > OGI will request most recent year 1040 IRS Tax Return Transcript for all borrowers and                               or terminated in accordance with Fannie Mae guideline,
                   include in the loan file if income information was used in the underwriting decision.                                  Mortgage insurance is not required on new loan.
                   Transcripts must be obtained directly from a tax transcript vendor or the IRS by OGI, rather   > If current LTV is > 80% and the original transaction had Mortgage Insurance:
                   than accepted from a borrower or broker.
                                                                                                                                          i. The loan is ineligible
                   > Any difference between income documented in the tax transcript and income used to                                    ii. Modification or transfer of the original Mortgage Insurance
                   qualify for the loan must be reasonable and supported by information and documentation                                 certificate is ineligible.
                   in the loan file.
                                                                                                                                          iii. If Mortgage insurance on the original transaction was LPMI,
       c. W-2(s) for previous year for each salaried borrower                                                                             the loan is ineligible.
       d. Multiple loans to One borrower:
                   Primary Residence                 Unlimited                                                    Ineligible properties
                   Second / Investment               Max 4 Properties                                                                     > Manufactured homes
                                                                                                                                          > Co-Ops

								
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