JUMBO PROGRAMS
DIAMOND
EMERALD
SAPPHIRE
JADE
SELECT STREAMLINE
Jumbo A Series
Product Type
30 Yr | 15 Yr
30 Yr | 15 Yr
30 Yr
30 Yr
30 Yr
30 Yr | 15 Yr  with a  5, 7, 10 Yr ARM available
Interest Only
No
No
​No
No
No
No
Max Loan Amount
$2.0 MM
$3.0 MM
$2.0 MM
$2.0 MM
$2.0 MM
$3.0 MM
Min Loan Amount
$1 Over Conforming
​Loan Limits
$1 Over
​Conforming
​Loan Limits
​$1 Over Conforming
​Loan Limits
$1 Over
Conforming
​Loan Limits
$1 Over
​Conforming
​Loan Limits
​$1 Over
​Conforming
​Loan Limits
Occupancy
O​O/2nd/Inv
O​O/2nd/Inv
O​O/2nd/Inv
​OO/2nd Home
O​O/2nd/Inv
O​O/2nd
Property Type
SFR | PUD Warrantable
​Condo | 2-4 Units
SFR | PUD Warrantable
​Condo | 2-4 Units
SFR | PUD Warrantable
​Condo | 2-4 Units
SFR | PUD Warrantable
​Condo | 2-4 Units
SFR | PUD Warrantable
​Condo | 2-4 Units
​SFR | PUD Warrantable
​Condo | 2-4 Units
Transaction Type
​Purch|RT|Cash-Out
​​Purch|RT|Cash-Out
​​Purch|RT|Cash-Out
​​Purch|RT|Cash-Out
​​Purch|RT|Cash-Out
​Purch|RT|Cash-Out
Delayed Financing
Yes*
Yes*
Yes*
Yes*
Yes*
No
Max Cash-Out
​$500K O/O
$350K 2nd/Inv.
​$500K O/O
$350K 2nd
Per Findings
Per Findings
$500K
$250K
Min. FICO
660
700
660
660
680
720
O/O Max LTV
89.99%
89.99%
89.99%
80%
85%
80%
Max DTI
43
43
45
45
<80% LTV 45%
​>80% LTV 36%
41%
Residual Income
N/A
N/A
N/A
N/A
Per Fannie Mae Findings
N/A
AUS
None
None
Approved/
​Ineligible
Approved/
​Ineligible
​Approved/
​Ineligible
None
Doc Type
Full Doc
Full Doc
Per Fannie Mae Findings
Per Fannie Mae Findings
Per Fannie Mae Findings
Full Doc
Min. Credit Requirements
All Borrowers must have min 2 FICO Scores. 
​3 Open Tradelines Active for 24 Mo. Non-traditional credit not acceptable.
All Borrowers must have min 2 FICO Scores. 
​3 Open Tradelines Active for 24 Mo. Non-traditional credit not acceptable.
​As Per DU / LPA Minimum Credit Requirements
As Per DU / LPA Minimum Credit Requirements
As Per DU  Minimum Credit Requirements
All Borrowers must have 
​4 Open Tradelines, 1 Active for 24 Mo. and other 3 rated for 12 months.  Non-traditional credit not acceptable.
Housing History
For borrowers with mortgage or rental history, borrower must have 0X30 lates in the past 24 months. ​If primary residence housing history reflects a forbearance arrangement, the payment history must reflect 0X30 lates in the most recent 24 months since exiting forbearance.
For borrowers with mortgage or rental history, borrower must have 0X30 lates in the past 24 months. ​If primary residence housing history reflects a forbearance arrangement, the payment history must reflect 0X30 lates in the most recent 24 months since exiting forbearance.
For borrowers with mortgage or rental history, borrower must have 0X30 lates in the past 24 months. ​If primary residence housing history reflects a forbearance arrangement, the payment history must reflect 0X30 lates in the most recent 24 months since exiting forbearance.
For borrowers with mortgage or rental history, borrower must have 0X30 lates in the past 24 months. ​If primary residence housing history reflects a forbearance arrangement, the payment history must reflect 0X30 lates in the most recent 24 months since exiting forbearance.
​​0x30x12
Forbearance – see guidelines.
For borrowers with mortgage or rental history, borrower must have 0X30 lates in the past 24 months. ​
Max No. Properties Owned
​N/A
​N/A
​N/A
​N/A
​N/A
4
Max No. Properties Financed
4
4
4
4
O/O: No Limit
2nd/INV: 20
4
First-Time
​Home Buyer
Yes with Restrictions**
Yes with Restrictions**
Yes with Restrictions**
Yes with Restrictions**
Yes with Restrictions**
​Yes with Restrictions**
Non-Occupant
​Co-Borrower
No
No
Yes
Yes
Yes
No
Reserves
6/12/18
6 Mo. for Additional Property
12/15/18/24
6 Mo. for Additional Property
Greater of AUS or Matrix
6 Mo for Additional Property
Greater of AUS or Matrix
6 Mo for Additional Property
<=80% LTV per findings.
​>80% LTV 6/12.
​(+2) for other properties owned.
​12/18/24/36
2 Mo. for Additional Property
Appraisals
2 if loan amount is over $1.5 MM. No appraisal transfers. LTV based on lower of 2 values. Any inconsistencies between appraisals must be reconciled
2 if loan amount is over $1.5 MM. No appraisal transfers. LTV based on lower of 2 values. Any inconsistencies between appraisals must be reconciled
Conform to Agency Appraisal Practices
Conform to Agency Appraisal Practices
Purch: 2 if over $2M
Refi: 2 if Over $1.5M
2 if loan amount is over $1.5 MM, for High Value Zip Codes 1.  OR 2 if loan amount is over $1.0 MM, for Non-High Value Zip Codes 2.  No appraisal transfers. LTV based on lower of 2 values. Any inconsistencies between appraisals must be reconciled
Appraisal Review
Required Clear Capital Review
Required Clear Capital Review
Required Clear Capital Review Unless 2.5 or Less CU Score
Required Clear Capital Review Unless 2.5 or Less CU Score
Required Clear Capital Review
​Required Clear Capital Review
​Notes
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Guidelines
Diamond Guidelines
Emerald
​Guidelines
Sapphire
Guidelines
Jade
​Guidelines
Select Streamline Guidelines
Jumbo A Series​
* Allowed - The original purchase transaction must be documented by the closing disclosure.
** See program matrix for details.
​For mortgage professionals’ use ONLY. Not for consumer distribution. Overlays subject to change without notice and may not address product specifics. Items not covered will default to appropriate agency guidelines subject to Credit Risk Review and/or approval.