Bulletin W13-092 – Update, Conventional Conforming DU

August 5, 2013Bulletins

Topic included in Bulletin W13-092:

  • Conventional Conforming DU guidelines and matrix have been updated
  • Updates include:
    • Clarification provided on minimum borrower contribution on 97% LTV loans for primary residences
    • Delayed Financing is now allowed on Cash-Out transactions purchased within the previous six (6) months
    • Gift of Equity requires borrower to meet minimum down payment from their own funds
    • Reduced Mortgage Insurance (MI) coverage is not allowed regardless of AUS findings. Standard MI coverage is always required.
  • The Lending Guide has been updated in the following areas:
    • Disputed Accounts
    • Delayed Financing
  • Updates are effective Monday, August 5, 2013

Download: Bulletin – W13-092 (PDF)

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