Platinum Program Declining Market Revisions
Effective on Wednesday April 23rd, 2008 the following types of loans in declining markets with LTV’s greater than 80% are ineligible. This applies to the Platinum program only.
Ø Second Homes
Ø Investment Properties
Ø Cash Out Transactions
Ø Interest Only
Ø 2 unit Properties
Sherlock will be updated shortly with these new changes.
Please feel free to contact your VP of Wholesale Lending or the Commitment Desk for further clarification if needed.
Thank you for your continued business!!