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Laguna Guidelines Update

The following changes were made to the guidelines:

  • Added new matrix to allow up to 85% financing on purchase transactions with no MI, page 2

  • Removed AMC restrictions for wholesale originations. For Correspondent clients, they are restricted to the following AMCs (Assurant, Clear Capital, Corelogic RELS Valuation, PVC Murcor Real Estate Services, Solidifi, or ServiceLink)

  • Added additional restrictions if property is located in market classification of 3 or 4 or if it’s a condo in Miami-Dade, FL, page 17

  • Increased LTV to 85% on new purchases, page 2

  • Made correction to MSA > $400k, page 2

  • Clarified use of retirement funds, page 10

  • 5% minimum for equity purchase transaction no longer required, page 28