Back to top

Lender Alerts

Home
Lender Alerts


Sun West Logo

Important Notification

Dear Valued Partner,

Sun West has re-evaluated the risk of default for home-buyers who may experience a payment shock of 20% of more. As a result, SWMC has relaxed its overlays to read as follows:

Where the payment shock is over 20% and the borrower(s) mid-FICO is less than 680, Sun West will accept loans where:

  1. The borrower(s) have a minimum of three (3) months PITI reserves (No Gifts) 
    OR
  2. The Debt-To-Income (DTI) ratio is less than 45

If you have any questions, please feel free to call on your Account Executive at (800) 453-7884.

Sincerely,
Sun West Mortgage Company, Inc.
P.S. Visit http://www.swmc.com/swmc-lender-alerts.php for our recent lender alerts

FHA 203b; 203k; HECM; VA; USDA; Conventional
Warehouse Lines; FHA-Authorized Originators
Lending and Servicing in over 45 States
www.swmc.com - www.simplehecmcalculator.com

Visit www.swmc.com/swmc/partner_resources.php for helpful links on Training, Webinars, Lender Alerts and Submitting Conditions
Equal Housing OpportunityThis information is provided as information for licensed wholesale brokers only and may not be copied or distributed to customers or potential customers. All loans subject to approval. Certain restrictions may apply. Program Rates, Prices, Guidelines, Fees, Costs, terms and Conditions are subject to change without notice.

Sun West Mortgage Company, Inc. (NMLS ID 3277) is licensed by the Department of Corporations as a California Finance Lender (License #603 0119) and is licensed by the Department of Real Estate (License #00793885). Refer to www.swmc.com to see where SWMC is a licensed lender. In all states, the principal licensed office of Sun West Mortgage Company, Inc. is 18303, Gridley Road in Cerritos, CA 90703; Phone: (800) 453-7884