UFF_Matrix


1	Conventional Product Matrix
2
3
4

5	Agency Conforming/High Balance
6	Fannie Mae/Freddie Mac
7	Occupancy	Loan Purpose	Conf/High Bal	Credit Score	Units	Fixed Rate		ARM
8						Fannie DU	Freddie LPA	Fannie DU	Freddie LPA
9						LTV/CLTV	LTV/CLTV	LTV/CLTV	LTV/CLTV
10	Owner Occ	Purchase Rate-Term Refi	Conforming	Determined by AUS	1	97¹	95	95	95
11					2	85	80	85	80
12					3-4	75	80	75	80
13		Purchase Rate-Term Refi	High Balance	620	1	95	95	95	95
14					2	85	80	85	80
15					3-4	75	80	75	80
16		Cashout Refi⁴	Conforming	Determined by AUS	1	80	80	80	80
17		Cashout Refi⁴	Conforming	Determined by AUS	2-4	75	75	75	75
18		Cashout Refi⁴	High Balance	620	1	80	80	80	80
19		Cashout Refi⁴	High Balance	620	2-4	75	75	75	75
20	2nd Home	Purchase Rate-Term Refi	Conforming	Determined by AUS	1	90	85	90	85
21		Cashout Refi	Conforming	Determined by AUS	1	75	75	75	75
22		Purchase Rate-Term Refi	High Balance	620	1	90	80	90	80
23		Cashout Refi	High Balance	620	1	75	75	75	75
24	Investment	Purchase	Conforming	Determined by AUS	1	85	85	85	85
25		Purchase	Conforming	Determined by AUS	2-4	75	75	75	75
26		Rate-Term Refi	Conforming	Determined by AUS	1	75	85	75	85
27		Rate-Term Refi	Conforming	Determined by AUS	2-4	75	75	75	75
28		Cashout Refi	Conforming	Determined by AUS	1	75	75	75	75
29		Cashout Refi	Conforming	Determined by AUS	2-4	70	70	70	70
30		Purchase	High Balance	620	1	85	85	85	85
31		Purchase	High Balance	620	2-4	75	75	75	75
32		Rate-Term Refi	High Balance	620	1	75	85	75	85
33		Rate-Term Refi	High Balance	620	2-4	75	75	75	75
34		Cashout Refi	High Balance	620	1	75	75	75	75
35		Cashout Refi	High Balance	620	2-4	70	70	70	70
36	¹ - LTV, CLTV, and HCLTV Ratios greater than 95%: These transactions are not permitted for high balance or loans with non-occupant borrower. For purchase transactions, at least one borrower must be a first-time homebuyer. For limited cash out, Fannie Mae must be the owner of the existing mortgage
37	² – LTV/CLTV restrictions may apply based on borrower’s credit history. Refer to Agency Guidelines for details.
38	³ – Manufactured Housing is only available through Fannie Mae and Max LTV/CLTV is 95% (Singlewide Homes are not eligible)
39	⁴ – Manufactured Housing Max Cash Out LTV is 65% (Owner Occ and Second Home Only – Investment Properties not eligible)
40	Agency Conforming/High Balance
41	Guidelines
42			Fannie Mae			Freddie Mac
43	Age of Documents		All credit documents - Credit, Paystubs, Bank Statements, Title good for 120 days; Appraisal good for 120 days.			Follow Fannie Mae
44
45	Business Purpose Loans		Refinance:
46	Investment Property Only			• Executed Lease agreement
47				• If short term rental, confirmation of listing on short term rental site o Income must be reported on tax returns. Leases not permitted.
48
49				• Tax return showing rental income on sch E
50				• If property not owned during previous Tax filing year, then must provide proof of receipt of both Security Deposit and Rental Income o Must be Arms-Length tenants.
51
52				• Require signed Borrower Certification of Loan Business Purpose, provided with Initial Disclosures and;
53				• Require signed and notarized Borrower Certification of Loan for Business purpose executed at closing
54				• Appraisal requirements follow agency guidelines
55			Purchase: