Correspondent Lending Non-QM Program Announcement—August 11, 2022

Subject: Non-QM Program Announcement

Date: August 11, 2022

Attn: All Sellers

We are pleased to announce the rollout of our revamped Non-QM Program. This product replaces the Non-QM Near Miss program previously offered, with a wide variety of updates. The program is offered for loan amounts from $150,000 to $1,500,0000 and has expanded to include a variety of documentation types, including: Full Doc, Asset Depletion, and 12/24 Month Bank Statements. Below are some additional highlights of the program:

  • Maximum LTV increased to 90%.
  • Maximum DTI increased to 50%.
  • Minimum FICO decreased to 660.
  • Maximum cash-out increased to $1,000,000.
  • Reduced credit derogatory seasoning requirements.
  • Up to 9% Interested Party Contribution Allowance.
  • 100% Gift Funds allowable with Loan-to-Values of 70% and lower.
  • Allowable short-term rental income.
  • Simultaneous second liens allowed.

We welcome all of our Seller Partners to join us on any of the four roll-out calls we will be conducting. Below is a list of the four calls being offered in the coming weeks. Please note that additional dates will be added as needed. Contact our sales staff for link information. 

August 18th 11:00-12:00 PST

August 25th 9:00-10:00 PST

September 1st 10:00-11:00 PST 

September 8th 10:00-11:00 PST 

The Non-QM Guideline document will be available at www.aig.com/correspondentlending within the coming days. Should you have any questions related to this announcement, please reach out to Shane Larscheid, Vice President of Sales.

Thank you for your continued business.