Platinum Program Declining Market Revisions

Effective on Wednesday April 23^rd, 2008 the following types of loans in declining markets with LTV’s greater than 80% are ineligible.This applies to the Platinum program only.

ØSecond Homes

ØInvestment Properties

ØCash Out Transactions

ØInterest Only

Ø2 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!!