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AFN Specialty Products

Non-QMFull Doc Jumbo and Agency Alternative

Non-QMBank Statement Programs

Non-QMNo Income - Investor Cash Flow Programs

Renovation LoansFHA 203K and FNMA HomeStyle

Prime Jumbo Loans

HECMReverse Mortgages

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Non-QMFull Doc Jumbo and Agency AlternativeGalton (I-38) Prime A and A+

Program Highlights• 95% LTV to $1.5MM, with a 680 FICO, Nation-Wide!• 95% LTV Cash Out to $1.5MM, with a 720 FICO• 80% LTV Cash Out to $2MM for Investment Properties• No Mortgage Insurance on any loan• No Maximum Cash Out

Program Limits• Loan Amounts up to $2.5MM (other programs available

up to $5MM)• FICO Scores as low as 600

• All Occupancies allowed for Purchase, Rate & Term and Cash Out

• Fixed, ARM and Interest Only Available

Primary Contact for AFN Team Members: (714) 706-3714 [email protected]

Non-QMBank Statement ProgramsImpac (I-15), Verus (I-42) and SG Capital (I-46)Impac (I-15) iQM Bank Statements Program• 12 Month Bank Statement Option• 90% LTV to $1MM, with a 680 FICO• 85% LTV Cash Out to $750K, with a 680 FICO• FICO Scores as low as 600• Loan Amounts up to $3MM• Borrowers may use asset amortization to derive additional

qualifying income!

Verus (I-42) Prime Ascent and Credit Ascent Programs• 12 and 24 Month Bank Statement and Full Doc Options• 90% LTV to $1.5MM, with a 680 FICO• 85% LTV Cash Out to $1.5MM, with a 680 FICO• FICO Scores as low as 580 (500 Full Doc)• Loan Amounts up to $5MM• 1 Day out of BK, Foreclosure or Short Sale is OK!

SG Capital (I-46) Expanded Access Plus and Core Programs• 12 and 24 Month Bank Statement and Full Doc Options• Personal or Business Bank Statements OK• 85% LTV to $1MM, with a 680 FICO• 80% LTV Cash Out to $1MM, with a 660 FICO• FICO Scores as low as 620• Loan Amounts up to $2.5MM• Guideline Exceptions Available!


Non-QMNo Income - Investor Cash Flow ProgramsImpac (I-15) and Verus (I-42)

Impac (I-15) iQM Investor Program:• No Income required if the subject property does not

have negative cash flow!• 80% with a 680 FICO• 75% LTV Cash Out with a 720 FICO• FICO Scores as low as 600• Loan Amounts up to $2.5MM• No borrower income or employment is stated or verified!

Verus (I-42) Investor Solutions Program• No Income required, even if the property has negative

cash flow!• Full Doc and Bank Statement options also available• 80% LTV to $1MM, with a 700 FICO• 75% LTV Cash Out to $1.5MM, with a 700 FICO• FICO Scores as low as 600 (540 Full Doc)• Loan Amounts up to $5MM• Improved pricing for transactions with better cash flow

ratios!


Renovation LoansFHA 203K and FNMA HomeStyleCaliber (I-20), Freedom (I-21) and M&T (I-23)Build equity where it didn’t exist, turn a “fixer upper” into a dream home or help someone rehab their property in need; all without worrying about 2nd liens, big down payments or cash out refinances.

FHA 203K and 203K Limited• 96.50% LTV for Purchases• 97.25% LTV for Refinances• 620 Minimum FICO• High Balance Loans Allowed• No maximum repair amount ($35K for Limited program)• Fixed Rate or 5/1 ARM Available

FNMA HomeStyle• 95% Max LTV• 620 Minimum FICO• Owner Occupied, 2nd Homes and Investment Properties Allowed!• No restrictions on types of repairs• High Balance Loans Allowed• Repair amount can be up to 75% of As Completed Value• Fixed Rate terms available

Contact Us for More Information:

Specialty Products Team(714) 706-3714 | [email protected]

Jay Boetscher “The Rehabman” [email protected] (312) 401-5626

Joseph [email protected] (815) 905-3390

Note: These are Program Minimums and Maximums only. Limitations for most programs (i.e. Max Loan Amount, Max Cash to Borrower and Max DTI) can, and will, vary based on the specific scenario. Refer to full program guidelines for details.

Jumbo Product MatrixRev. 8/6/2018

Investor Name

Investor Code

Guideline Password Program Name Max Loan

Amount Underwriting Type Max LTV Min FICO Cash Out Max LTV

Cash Out Min FICO

Max Cash to Borrower

2nd Home Max LTV

N/O/OMax LTV Max DTI 2 Appraisals

(Loan Amount)Other AppraisalRequirements

Maximum Number of Financed Properties

PennyMac I-6 jumboJumbo

(Fixed & ARMs)$2,000,000

In-House Underwrite 2nd Sign by Manager

80%/700 700/80% 75%/700 700/75% $500,000 80%/700 N/A 43% > $1,000,000 CDA Required(Must be ordered by Processor)

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Chase I-16 jumboNon-Agency High LTV

(Fixed & ARMs)$2,000,000

(County Specific)In-House up to $2MM 2nd Sign by Manager

89.99%/740 740/89.99% N/A N/A N/A N/A N/A 35% > $2,000,000 CDA Required(Must be ordered by Processor)

Owner Occ - No Limit2nd Home - 4

Chase I-16 jumboNon-Agency

(Fixed)$3,000,000

In-House up to $2MM 2nd Sign by Manager

85%/700 680/80% 80%/700 680/75% $250,000 80%/680 75%/700 43% > $2,000,000 CDA Required(Must be ordered by Processor)



(ARMs)$3,000,000





(Interest Only ARMs)$3,000,000


75%/700 700/75% N/A N/A N/A 65%/740 N/A 43% > $2,000,000 CDA Required(Must be ordered by Processor)


Caliber I-20 jumboJumbo

(Fixed & ARMs)$2,500,000


89.99%/720 680/80% 75%/720 700/65% $750,000 80%/720 65%/740 43%Purch > $2,000,000Refi > $1,500,000

CDA Required(Must be ordered by Processor)

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Redwood I-28 jumboSelect 90 QM

(Fixed)$1,500,000


90%/720 720/90% N/A N/A N/A N/A N/A 43% Refi - All Loan Amounts CDA Required(Must be ordered by Processor)

2

Redwood I-28 jumboSelect QM

(Fixed & ARMs)Fixed - $2,500,000 ARMs - $2,000,000


85%/760 700/70% 70%/720 700/65% $750,000 80%/720 70%/740 43%Purch > $2,000,000Refi > $1,500,000


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Redwood I-28 jumboChoice QM

(Fixed & ARMs)$2,000,000


90%/680 661/80% 80%/680 661/70% $500,000 80%/661 75%/680 43%Purch > $2,000,000Refi > $1,500,000


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TX Capital I-44 jumboStandard Jumbo (Fixed & ARMs)

$2,000,000 In-House Underwrite 2nd Sign by Manager


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SG Capital I-46 jumboPrime Jumbo

(Fixed & ARMs)$3,000,000


85%/760 700/80% 80%/700 700/80%> 65% - $300K≤ 65% - $500K

80%/700 60%/760 43% > $2,000,000 CDA Required(Must be ordered by Processor)

DTI > 38% - 4DTI ≤ 38% - 6

Wells Fargo I-7 jumboNon-Conforming (Fixed & ARMs)

$3,000,000 Investor Prior

Approval RequiredFixed - 80%/700 ARMs - 80%/720

Fixed - 700/80% ARMs - 720/80%

70%/720 720/70% $500,000 Fixed - 80%/700 ARMs - 80%/720

60%/740 36%/43%2nd AppraisalNot Required

CDA Not Required(Order Apraisal Through: Assurant Valuations2,

Clear Capital, CoreLogic, PCV Murcor, ServiceLink or Solidifi)

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Wells Fargo I-7 jumboNon-Conforming

Preferred Payment Plan (Fixed & ARMs)



Fixed - 700/80% ARMs - 720/80%

70%/720 720/70% $500,000 Fixed - 80%/700 ARMs - 80%/720


CDA Not Required(Order Apraisal Through: Assurant Valuations2,


4

BK and ForeclosureSeasoning

Deed-in-Lieu &Short Sale Seasoning

7 Years 7 Years

7 Years 7 Years

7 Years4-7 Years

Based on LoanCharacteristics

7 Years4-7 Years


7 Years4-7 Years


7 Years 7 Years

None Allowed None Allowed

7 Years 7 Years

4 Years 4 Years

7 Years 7 Years

7 Years 7 Years

7 Years 7 Years

7 Years 7 Years

Jumbo Product Matrix

Primary Contact for AFN Team Members:(714) [email protected]

InvestorName

InvestorCode

Guideline Password Program Name Max Loan

Amount Underwriting Type Max LTV Min FICO Cash OutMax LTV

Cash OutMin FICO

Max Cash to Borrower

2nd Home Max LTV

N/O/O Max LTV Max DTI 2 Appraisals

(Loan Amount)Other Appraisal Requirements

Maximum Number of Financed Properties

PennyMac I-6 jumboJumbo

(Fixed & ARMs)$2,000,000

In-House Underwrite2nd Sign by Manager

80%/700 700/80% 75%/700 700/75% $500,000 80%/700 N/A 43% > $1,000,000 CDA Required(Must be ordered by Processor)

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Chase I-16 jumboNon-Agency High LTV

(Fixed & ARMs)$2,000,000

(County Specific)In-House up to $2MM2nd Sign by Manager

89.99%/740 740/89.99% N/A N/A N/A N/A N/A 35% > $2,000,000 CDA Required(Must be ordered by Processor)

Owner Occ - No Limit 2nd Home - 4


(Fixed)$3,000,000

In-House up to $2MM2nd Sign by Manager




(ARMs)$3,000,000





(Interest Only ARMs)$3,000,000


75%/700 700/75% N/A N/A N/A 65%/740 N/A 43% > $2,000,000 CDA Required(Must be ordered by Processor)


Caliber I-20 jumboJumbo

(Fixed & ARMs)$2,500,000


89.99%/720 680/80% 75%/720 700/65% $750,000 80%/720 65%/740 43%Purch > $2,000,000 Refi > $1,500,000


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Redwood I-28 jumboSelect 90 QM

(Fixed)$1,500,000


90%/720 720/90% N/A N/A N/A N/A N/A 43% Refi - All Loan Amounts CDA Required(Must be ordered by Processor)

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Redwood I-28 jumboSelect QM

(Fixed & ARMs)Fixed - $2,500,000ARMs - $2,000,000


85%/760 700/70% 70%/720 700/65% $750,000 80%/720 70%/740 43%Purch > $2,000,000 Refi > $1,500,000


4

Redwood I-28 jumboChoice QM

(Fixed & ARMs)$2,000,000


90%/680 661/80% 80%/680 661/70% $500,000 80%/661 75%/680 43%Purch > $2,000,000 Refi > $1,500,000


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TX Capital I-44 jumboStandard Jumbo(Fixed & ARMs)

$2,000,000 In-House Underwrite2nd Sign by Manager


4

SG Capital I-46 jumboPrime Jumbo

(Fixed & ARMs)$3,000,000


85%/760 700/80% 80%/700 700/80%> 65% - $300K≤ 65% - $500K

80%/700 60%/760 43% > $2,000,000 CDA Required(Must be ordered by Processor)

DTI > 38% - 4 DTI ≤ 38% - 6

Wells Fargo I-7 jumboNon-Conforming(Fixed & ARMs)



Fixed - 700/80%ARMs - 720/80%

70%/720 720/70% $500,000 Fixed - 80%/700 ARMs - 80%/720


CDA Not Required (Order Apraisal Through: Assurant Valuations2,


4

Wells Fargo I-7 jumboNon-Conforming

Preferred Payment Plan(Fixed & ARMs)



Fixed - 700/80%ARMs - 720/80%

70%/720 720/70% $500,000 Fixed - 80%/700 ARMs - 80%/720


CDA Not Required (Order Apraisal Through: Assurant Valuations2,


4

BK and Foreclosure Seasoning

Deed-in-Lieu & Short Sale Seasoning

7 Years 7 Years

7 Years 7 Years

7 Years4-7 Years

Based on Loan Characteristics

7 Years4-7 Years


7 Years4-7 Years


7 Years 7 Years

None Allowed None Allowed

7 Years 7 Years

4 Years 4 Years

7 Years 7 Years

7 Years 7 Years

7 Years 7 Years

7 Years 7 Years

Jumbo Product Matrix

HECMReverse MortgagesFor borrowers age 62 and higher, these loans can be a great source of revenue for your branch. Use our team of Reverse Mortgage professionals to add our Simple Reverse Solution to your repertoire.

Programs and Highlights• FHA Insured Options available with Fixed or Adjustable Rate• Jumbo Reverse Mortgages Available• Purchase, Refinance and Line of Credit options available• No Credit Score Requirement

Process Overview

• Provide 6 simple pieces of information and we will pre-qualifyyour borrower

• We will happily handle the loan from beginning to end• Profits will be split with your branch!

Chris [email protected] | (760) 408-4371

Debbie [email protected] | (626) 890-6738

Richard [email protected] | (760) 404-1429

Contact Us for More Information:

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