Pinehurst Agency and Non-Agency Changes

            Effective immediately for all loans locked or re-locked on Pinehurst is subject to the following restrictions but are not limited to these changes.  Updated guidelines will be posted as soon as possible, please contact your VP of Wholesale lending with your specific scenarios.  Sherlock will be updated within the next 48 hours with the new restrictions.

• • Agency Non-Owner Occupied properties are limited to a maximum LTV of 80%.
  • Agency Second/Vacation Home Cash Out Refinance transactions are limited to a maximum LTV of 80%.
  • Non-Agency Loans with LTVs > 80% no longer permit subordinate financing.
  • Non-Agency Cash Out Refinance transactions are limited to a maximum LTV of 80%.
  • Agency Amortizing and Interest Only Fixed and ARM Cash Out Refinance transactions in the State of Florida are limited to a maximum LTV of 80%.

Please feel free to contact your VP of Wholesale Lending or the Underwriting Department for further clarification if needed.

 

Thank you for your continued business!!