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Will Arch require a foreign credit report when a loan with valid DU Approve/Eligible findings (or LPA Accept/Eligible feedback) includes a borrower who has been in the US for less than two years?
-Will Arch require a foreign credit report when a loan with valid DU Approve/Eligible findings (or LPA Accept/Eligible feedback) includes a borrower who has been in the US for less than two years?
Loans with valid DU Approve/Eligible findings or LPA Accept/Eligible feedback are perfect for our EZ Decisioning/SwiftClose program. Under EZDecisioning/SwiftClose, no additional credit or tradeline requirements apply. For more information, visit our guideline page: https://mi.archcapgroup.com/Guidelines
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Is a borrower on a loan with valid DU/LPA approved findings or feedback eligible for mortgage insurance even if they have limited credit?
-Is a borrower on a loan with valid DU/LPA approved findings or feedback eligible for mortgage insurance even if they have limited credit?
Yes! Loans with valid DU Approve/Eligible findings or LPA Accept/Eligible feedback are perfect for our EZ Decisioning/SwiftClose program. Under EZDecisioning/SwiftClose, no additional credit or tradeline requirements apply. For more information, visit our guideline page: https://mi.archcapgroup.com/Guidelines
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What is the maximum DTI for loans with LPA Accept/Eligible Feedback?
-What is the maximum DTI for loans with LPA Accept/Eligible Feedback?
The maximum DTI for loans with a LPA Accept/Eligible Feedback under the Arch MI EZ Decisioning/SwiftClose program is 50%. Please see Chapter 2 of the Arch MI Underwriting Manual – https://mi.archcapgroup.com/Portals/1/Documents/Guidelines/ArchMI_UWManual_NR.pdf
