Monterey guidelines

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The full Monterey guidelines, 11 parts and 88 topics, searchable by topic. Sign in to open any of them.

Matrices5 topicsMONTEREY NON-CONFORMING, PRIMARY RESIDENCE: 1-2 Unit, including PUDs2 and Condos, PRIMARY RESIDENCE: 3-4 Unit, SECOND Home: 1 Unit, including PUDs and Condos
Program and products8 topicsEarly Paid Off Policy (EPO), Products, Higher Priced Mortgage Loan, Qualified mortgage
Borrowers3 topicsBorrower Eligibility, Non-Occupant Co-Borrower, Standard Trade lines
Funds and liabilities5 topicsBorrower Minimum Contribution, Gift funds, Debt Payoff/Consolidation, Open 30-Day Charge
Income3 topicsIneligible Income, Re-entering workforce, Self-Employed
Assets and reserves5 topicsEligible Source of Funds, Ineligible Funds/Assets, Asset Verification, Assets – Reserves
Property and appraisal4 topicsAppraisal Requirements, Depreciating Markets, Unacceptable Properties, Departing Residence
Income sources17 topicsAlimony / Separate Maintenance, Future Income, Child Support, Foster Care
Credit and housing history10 topicsMortgage/Housing History, Forbearance/Deferment, Disputed Credit, Student Loans
Transactions12 topicsRent back the Current Residence, Secondary Financing, Ineligible Transactions & Scenarios, Technical / Short Term Refinance seasoning
Closing and other requirements16 topicsFirst Time Home Buyers (FTHB), Net Tangible Benefit Requirements, Fraud or Active-Duty Alert on Borrower’s Credit report, Buyout of Spouse, domestic partner or affianced interest

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