Conventional and Government
The restriction permitting rescores on all conventional and government loans (re-submission is required) has been removed. JMAC will now allow the use of a broker’s credit report if it determined (right after initial approval) that the credit score on the credit report pulled by JMAC dropped due to inquiries only. Please note that the broker’s credit report must be dated prior to the loan submission date.
Jumbo and Non-Agency
JMAC will now allow the use of the broker’s credit report if the report is from Credco and dated within 30 days of submission. There are no exceptions to allow any other bureau or an older report.