Lender Compensation
January 05, 2020
Lender Compensation is changed to 2.75% on all HIP products. Lender compensation is combination of Origination fee and SRP
Lender Update
DTI Requirement Effective with new loan reservations 01/06/20
January 05, 2020
The program maximum DTI ratio is 45% for FHA, VA, USDA-RD, Fannie Mae and Freddie Mac loans with a minimum 640 FICO. The program maximum DTI ratio is 50% for FHA, VA,USDA-RD, Fannie Mae and Freddie Mac loans with a minimum 680 FICO. This change does not affect the HIP for First-Time Homebuyer program or the HIP for Teachers program.
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