Jumbo 1 Program Discontinuation
As we’ve said before, at Plaza Home Mortgage® we are always working to keep things simple for our clients. As such, we will be discontinuing our Jumbo 1 program, effective December 27, 2021. We’re confident that Plaza’s Jumbo AUS 1 and Jumbo AUS 2 will provide eligibility for virtually all scenarios previously offered on Jumbo 1, and there will be no reduction in program coverage or price competitiveness.
Plaza Home Mortgage

Recent Posts
Big Updates to Jumbo
Topics: Wholesale News, Wholesale Program Updates, National Correspondent News, Plaza at a Glance, Mini-Correspondent News, National Correspondent Program Updates, Mini-Correspondent Program Updates
2022 Higher Conforming Limits!
Available Now with Plaza – Can Close in 2021
FHFA has announced the 2022 conforming loan limits: $647,200 for baseline and $970,800 for high-cost areas. Plaza is accepting the increased loan limits, effective immediately. Talk to your Plaza Account Executive for more info!
Topics: Wholesale News, Wholesale Program Updates, National Correspondent News, Plaza at a Glance, Mini-Correspondent News, National Correspondent Program Updates, Mini-Correspondent Program Updates
New! Jumbo AUS 2 is Now Available
We’ve just rolled out another great Jumbo AUS option! Now Plaza clients have even more possibilities to offer your Jumbo borrowers the best price and more choices for qualifying. Our Jumbo AUS programs utilize agency AUS findings for streamlined doc requirements, plus:
Topics: Wholesale News, Wholesale Program Updates, National Correspondent News, Plaza at a Glance, Mini-Correspondent News, National Correspondent Program Updates, Mini-Correspondent Program Updates
We know New York – Visit our booth at 33rd NYAMB Conference and Tradeshow
Plaza Home Mortgage® has been serving the Empire State for a long time, and we’ve learned a thing or two about the market in the process.
Topics: Wholesale News, Mini-Correspondent News
FHA Update: Student Loan Debt Policy
FHA Update: Student Loan Debt Policy
Plaza Home Mortgage® is aligning with FHA student loan guidance as announced in the Mortgagee Letter 2021-13. The updated policy removes the current requirement that lenders calculate a borrower’s student loan monthly payment as 1% of the outstanding student loan balance for student loans that are not fully amortizing, or are not in repayment.
The new policy bases the monthly payment on the actual student loan payment, which is often lower, and helps home buyers with student debt meet minimum eligibility requirements for an FHA-insured mortgage.
This updated policy may be employed by lenders immediately but mandatory implementation is required for all case numbers assigned on or after August 16, 2021. Plaza will apply this policy immediately.
If you have questions on the updated FHA student loan debt policy please contact your Plaza Account Executive, or email us at hereforyou@plazahomemortgage.com.
Topics: Wholesale News, Wholesale Program Updates, National Correspondent News, Mini-Correspondent News, National Correspondent Program Updates, Mini-Correspondent Program Updates
Quick Pricer
Price Loans Faster with Quick Pricer
Topics: Wholesale News, Wholesale Program Updates, National Correspondent News, Mini-Correspondent News, Mini-Correspondent Program Updates
Introducing RefiNow
Expand Your Borrowers’ Refi Options
Topics: Wholesale News, Wholesale Program Updates, National Correspondent News, Mini-Correspondent News, National Correspondent Program Updates, Mini-Correspondent Program Updates
Wholesale Reverse Jumbo Improvements
Better Interest Rates and Principal Limit Factors
Topics: Wholesale News, Wholesale Program Updates, National Correspondent News, Mini-Correspondent News, Mini-Correspondent Program Updates
Jumbo AUS LLPA Improvement
Effective for all Jumbo AUS locks taken on or after Wednesday, June 2, 2021, Plaza Home Mortgage® has improved the investment property LLPA between .750 – 1.000 and the adjustment for LTV > 80% has increased by .250.
Topics: Wholesale News, Wholesale Program Updates, National Correspondent News, Mini-Correspondent News, National Correspondent Program Updates, Mini-Correspondent Program Updates
USDA 1003 Update
Beginning June 1, 2021, USDA will require the redesigned Uniform Residential Loan Application (URLA) (Fannie Mae Form 1003/Freddie Mac Form 65, effective date 1/2021) for all new loan submissions. All SFHGLP Loan requests utilizing the old URLA version must be submitted to Rural Development prior to June 1, 2021.
Loans in the pipeline that have already received Conditional Comment for SFR Guarantee Approval will not be affected. Loans in the pipeline not submitted for Conditional Comment for SFR Guarantee Approval, using the new 1003 will not be affected.
Topics: Wholesale News, Wholesale Program Updates, National Correspondent News, Mini-Correspondent News, National Correspondent Program Updates, Mini-Correspondent Program Updates