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Plaza News + Updates

Wholesale Reverse Jumbo Improvements

Posted by Plaza Home Mortgage on June 15, 2021

Better Interest Rates and Principal Limit Factors

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Topics: Wholesale News, Wholesale Program Updates, National Correspondent News, Mini-Correspondent News, Mini-Correspondent Program Updates

Jumbo AUS LLPA Improvement

Posted by Plaza Home Mortgage on June 9, 2021

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.

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Topics: Wholesale News, Wholesale Program Updates, National Correspondent News, Mini-Correspondent News, National Correspondent Program Updates, Mini-Correspondent Program Updates

Get a Boost with Correspondent Renovation Lending

Posted by Plaza Correspondent on June 7, 2021

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.

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Topics: National Correspondent News, Correspondent Certified Loan Program, National Correspondent Program Updates

Plaza's June Training Calendar is Available!

Posted by Plaza Training on June 1, 2021

Our full training calendar for the month of June is now available. Please follow the link to see a complete list of all of our upcoming training courses. As always, all of our trainings are complimentary and once you register, even if you miss the training, you will receive an email link to the training to view at your convenience.

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Topics: Plaza at a Glance, Plaza Training

USDA 1003 Update

Posted by Plaza Home Mortgage on May 27, 2021

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.

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Topics: Wholesale News, Wholesale Program Updates, National Correspondent News, Mini-Correspondent News, National Correspondent Program Updates, Mini-Correspondent Program Updates

[National Correspondent] Plaza's FHA and VA FICOs Go Even Lower

Posted by Plaza Correspondent on May 19, 2021

FHA and VA FICOs Go Even Lower + More FHA, VA and Jumbo AUS News

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Topics: National Correspondent News, National Correspondent Program Updates

[Wholesale] Plaza's FHA and VA FICOs Go Even Lower

Posted by Plaza Wholesale on May 19, 2021

FHA and VA FICOs Go Even Lower + More FHA, VA and Jumbo AUS News

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Topics: Wholesale News, Wholesale Program Updates, Mini-Correspondent News, Mini-Correspondent Program Updates

Jumbo AUS – Plaza’s Next BIG Thing

Posted by Plaza Home Mortgage on May 11, 2021

Big things are happening at Plaza Home Mortgage® so sit back, relax and enjoy an easier way to do Jumbo loans with our new Jumbo AUS program. Documentation for traditional Jumbo loans and the requirements of Appendix Q can be daunting but by utilizing the resources provided by Plaza’s Jumbo AUS program, you’ll be able to streamline these larger loans more efficiently.

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Topics: Wholesale News, Wholesale Program Updates, National Correspondent News, Mini-Correspondent News, National Correspondent Program Updates, Mini-Correspondent Program Updates

Michael Fontaine named a 2021 Financial Leader by HousingWire

Posted by Plaza Wholesale on May 4, 2021

Congratulations to Michael Fontaine, Plaza’s Co-President and COO, on being named a 2021 Financial Leader by HousingWire. The recipients of this year’s award were selected based on their professional achievements within their organizations, contributions to the overall housing economy, client impact and personal success. Check out the article to see the full list of winners.

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Topics: Wholesale News, Plaza in the News, Plaza at a Glance, Mini-Correspondent News

VA Eligibility Expanded to National Guard Members

Posted by Plaza Home Mortgage on April 30, 2021

Aligning with the Department of Veterans Affairs (VA) recently announced expansion of eligibility, Plaza Home Mortgage® is now able to extend VA home loans to certain members of the Army National or Air National Guard. Eligible National Guard members must have performed at least 90 cumulative days of full-time National Guard duty, of which, at least 30 of those days must have been consecutive. This change applies to current and former National Guard members, regardless of service dates. Plaza’s VA guidelines have been adjusted to reflect the change.

View the VA Circular for more details on who is now eligible.

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Topics: Wholesale News, Wholesale Program Updates, National Correspondent News, Mini-Correspondent News, National Correspondent Program Updates, Mini-Correspondent Program Updates