AVM Requirement Eliminated on VA IRRRLs
with FICO 680 or Greater
Dear Licensed Partner,
Sun West has eliminated the Automated Valuation Model (AVM) requirement on VA IRRRLs with qualifying credit score equal to or greater than 680 with loan submissions effective today, May 29, 2014.
Yes, no more AVM and no more LTV hits for VA IRRRLs with qualifying credit score of 680 or greater.
For loans with the qualifying credit score less than 680, the existing AVM requirement to establish loan-to-value (LTV) remains in effect.
If you have any questions, please contact your Client Relations Manager at (855) OK-SUNWEST or (855) 657-8693.
Sun West Mortgage Company, Inc.
18303 Gridley Road
Cerritos, CA 90703
Phone : (800) 453-7884