Agency Matrix Jeopardy

LTV

100

This is the Max LTV for a Purchase OO, 2 unit R/T refinance. 

What is 85%?

Page 26

200

This is the max LTV for OO, Cash out, SFR.

What is 80%

300

This the max LTV for a 2nd home cash out

What is 75% LTV?

400

This is the max LTV for investment cash out 3-4 unit 

What is 70% LTV?

500

This is the max LTV for investment 1 unit Purchase and max LTV for Rate and Term

What is 85% LTV, and what is 75% LTV?

Borrowers

100

This is the type of financing that a borrower with diplomatic immunity qualifies for.  

What is none?  (client is ineligible) 

200

This is what AWMS considers a non US citizen borrower with lawful proof of residency. 

What is a Permanent Residence Alien?

300

This is also referred to as a SSN

what is a social security number?

400

This is the abbreviation for ITIN.

What is Individual Taxpayer Identification Number?

500

This is 3 of the acceptable visa types for a Non Perm Resident.

What is

H-1A

H-1B

E-1

E-2

L-1

P-1

T-1

O-1

Loan Amounts

100

This is the max(non high balance) loan amount in the Continental US for a 1 unit property.

What is 510,400?

200

This is the max loan amount for a 1 unit property in Alaska and Hawaii 

What is 765,600?

300

This is the max non high balance loan amount for a 3 unit property in  the Continental US.   

What is 789,950?

400

This is how Maximum loan limits are determined.

What is Geographic area?

500

This is the max High Balance loan amount in the continental US for a 4 unit property.

What is 1,472,550?

Appraisal Types

100

This is a another name for a 1004.

What is a full interior/exterior appraisal?

200

This is the Freddie Mac form number that is the same as the Fannie Mae 1004.  

What is a Form 70?

300

This is a Appraisal 1025 form.

What is a Income property report?

400

This is the what ACE stands for.

What is Automated Collateral Evaluation?

500

This is the appraisal form number for a condo report. 

What is a 1073?

Derog Credit

100

This is the min years seasoning for a Chapter 7 bankruptcy. 

What is 4 years?

200

This is the seasoning date used for Chap 13 dismissal.

what is 4 years?

300

This is the seasoning requirement for mulit bankruptcy filings. 

What is 5 years if more than 1 filing within the last 7years from the most recent dismissal date?

400

This is the time period for the seasoning for a foreclosure. 

What is 7 years from the completion of the foreclosure action. 

500

This is the definition of a Deed in Lieu  

What is when a bank agrees to accept a deed to the property instead of foreclosing on the property to get the title?