Close more Conventional Loans with No Overlay
(Applicable to Wholesale Channel)
Sun West Mortgage Company, Inc. (Sun West), has updated its Conventional Program guidelines to remove overlays on various programs. Updated program guidelines are available in AllRegs (click here).
The changes below are incorporated in the Sun West Conventional Loan Programs:
- Manual underwriting is now allowed.
- Minimum FICO has been reduced to 620.
- Max LTV/CLTV is now allowed as per FNMA guidelines.
- Restriction of number of financed property has been removed and is now in line with FNMA guidelines.
- ARM products are now available for 2nd home and investment properties.
For additional questions not answered by the guideline, please email Sun West’s underwriting scenario desk at uwscenarios@swmc.com for more information.
If you have any questions, please call our Underwriting Hotline at (800) 241-7113.
Sun West Mortgage Company, Inc.
6131 Orangethorpe Avenue, Suite 500
Buena Park, CA 90620
Phone: (800) 453-7884
This information is provided to licensed brokers/lenders only and may not be copied or distributed to customers or potential customers. All loans are subject to approval. Certain restrictions may apply. Listed pricing is a morning indication only. Program rates, prices, guidelines, fees, costs, terms and conditions are subject to change without notice.
