The following changes were made to the guidelines:
- Clarified that we are limited to a total of up to 15 properties on any occupancy types regardless if property is free or clear, page 2 & 8
- Clarified that we will use the highest PITIA payments to calculate PITIA to meet reserve requirement for other finance REOs, page 3
- Updated subordinate liens guideline, page 22
- Updated POA guideline, page 23
- Updated Non-warrantable guideline, page 26
- Added insurance maximum deductible is the lesser of $5,000 or 5% of the face value of the property insurance, page 27
- Added 1031 only allowed if exchange to a similar property, page 28