Plaza News + Updates

Plaza Home Mortgage^® will be in NYC for the MBA Secondary and Capital Markets Conference, May 15-18, and we want to meet with you! Click here and set up time to meet with us at the Dos Caminos Restaurant in The W hotel and see how Plaza’s renovation loan programs can help you reach millennial homebuyers, add value to your portfolio and create opportunities for new business in today’s market.

Exciting program news! Plaza Home Mortgage^® is expanding both agency and government guidelines, removing certain overlays and increasing VA Jumbo loan amounts effective on February 10, 2022.

See the below the details on the following changes:

Manufactured Housing Expansion

We’re excited to share that we are now accepting Reverse Jumbo loans from our Correspondent Lenders on a non-delegated basis!

Unlike a standard HECM, the Reverse Jumbo has no mortgage insurance (MI), so your borrowers can access more equity without the additional MI fees. With loan amounts up to $4 million, your clients can tap into more equity in their higher-value homes.

Now available at Plaza Home Mortgage^®, Encompass Investor Connect™ – the easy way for Encompass^® users to deliver loan data and documents directly from Encompass to us, without having to leave your system of record.

Plaza Home Mortgage^® is excited to welcome this year’s MBA Annual Convention to our hometown of sunny San Diego, CA, October 17-20! If you’re ready to have some ‘fun in the sun’ stop by our meeting room at The Edge in the Hard Rock Hotel – right across the street from the San Diego Convention Center – and check out the many program offerings available to grow your business and help manage your pipeline.

Pencil in some time with a Plaza Account Executive today by emailing hereforyour@plazahomemortgage.com to experience an elevated correspondent service like no other.

Plaza Home Mortgage^® is ready to roll on the Freddie Mac Refi Possible^SM program. Refi Possible expands eligibility to include borrowers at or below 80% of the Area Median Income (AMI) limit.

Benefits of Refi Possible include:

Come “ride the tide” with Plaza at the California MBA Western Secondary Market Conference on August 24-26, at the beautiful Waldorf Astoria Monarch Beach in Dana Point, CA.

If you’re attending, stop by the Plaza meeting room in Pacific Ballroom 1, and explore our available program offerings to help better manage and clear your pipeline with ease.

Plaza Home Mortgage^® is expanding the lending possibilities for our clients and their borrowers. We are pleased to announce that we are again offering Conventional Conforming and Super Conforming ARMs starting today, Tuesday, August 3, 2021.

Please refer to Plaza’s Conforming ARM and Super Conforming ARM Program Guidelines for complete details.

Plaza Home Mortgage^® just removed the self-employment overlays plus made other enhancements to our popular Jumbo 1 program. We also have updates to mortgage insurance and Jumbo AUS we want to tell you about.

Tight inventory and rising home prices are forcing many homebuyers to consider “fixer-uppers” and simultaneously buy and renovate. As the number of home purchases using renovation loans increases, so does your pipeline. That’s where we come in to help make it easy for you to capture more business in this growing lending segment.