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Sun West's Guideline Update on VA IRRRLs and FHA Streamline RefinancesDear Licensed Partner, Effective for loans submitted on or after January 1, 2015, Sun West will accept a mortgage only credit report in lieu of a full credit report on VA IRRRLs and FHA Streamline loans. The mortgage only credit report must be a tri-merged credit report reporting all 3 FICO scores, if available. Qualifying Credit Score is determined as follows:
In addition to the above, mortgage payment history requirements are updated as follows:
A full credit report reflecting mortgage payment history will continue to be acceptable. If you have any questions, please contact your Client Relations Manager at (855) OK-SUNWEST or (855) 657-8693. Sincerely,
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