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Fannie Mae Student Loan Cash-Out Refinance Program

(Applicable to Wholesale and Correspondent channel)



Dear Licensed Partner,

In our continued commitment to provide better products to our valued partners, Sun West Mortgage Company, Inc. (“Sun West”) has introduced a new program, Fannie Mae Student Loan Cash-Out Refinance.

This program is a cost-effective alternative to use existing home equity to payoff student loan debts, potentially reducing borrower’s monthly debt payments. Unlike Standard Cash-Out refinance, this program allows no Loan Level Pricing Adjustment (LLPA) for cash-out refinance.

Program guidelines are available in AllRegs (Wholesale, Correspondent).

For any additional questions on the program, please email Sun West’s underwriting scenario desk at uwscenarios@swmc.com or call our Underwriting Hotline at (800) 241-7113.


Sincerely,

Sun West Mortgage Company, Inc.

6131 Orangethorpe Avenue, Suite 500
Buena Park, CA 90620
Phone: (800) 453-7884



SW-1: Our No Overlays Program

This information is provided to licensed mortgage professionals only and not for distribution to consumers. Please visit https://www.swmc.com/disclaimer.php or refer to www.nmlsconsumeraccess.org to see where Sun West Mortgage Company, Inc. (NMLS ID 3277) is a licensed lender and servicer. All Rights Reserved. We are not accepting applications from Georgia or Massachusetts residents. We are purchasing mortgages secured by Massachusetts properties but not Georgia. Sun West Mortgage Company, Inc. (NMLS ID 3277) holds a Financing Law License (#6030119) [Loans made or arranged pursuant to a California Financing Law license], licensed by the California Department of Business Oversight, Phone: (866) ASK-CORP and has a DRE Real Estate Corporation License Endorsement (#00793885), licensed by the California Department of Real Estate, Phone: (877) 373-4542.

Equal Housing Opportunity