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Plaza News + Updates

[Wholesale] Solutions Non-QM is Back!

Posted by Plaza Wholesale on September 29, 2021

Plaza Home Mortgage® is happy to reintroduce Solutions Non-QM for our broker clients! We are here to help you fit the home finance needs of self-employed professionals and other non-W2 borrowers – with more flexibility and enhanced service levels.

Our Solutions Non-QM program has expanded eligibility guidelines and alternative documentation options:

  • Standard documentation
  • Bank statement (12 and 24 month)
  • P&L
  • VOE
  • 1099
  • Asset depletion

Plaza also offers a free Bank Statement Income Calculation service, a dedicated Scenario Desk and Non-QM Underwriting team to give you fast and accurate answers to your questions.

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Topics: Wholesale News, Wholesale Program Updates, Plaza at a Glance, Mini-Correspondent News, Mini-Correspondent Program Updates

Announcing Freddie Mac Refi PossibleSM program

Posted by Plaza Correspondent on August 31, 2021

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

Benefits of Refi Possible include:

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Topics: Wholesale News, Wholesale Program Updates, National Correspondent News, Plaza at a Glance, Mini-Correspondent News, National Correspondent Program Updates, Mini-Correspondent Program Updates

Announcing Wholesale Conforming and Super Conforming ARMs

Posted by Plaza Wholesale on August 9, 2021

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.

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Topics: Wholesale News, Wholesale Program Updates, Plaza at a Glance, Mini-Correspondent News, Mini-Correspondent Program Updates

WHOLESALE: Jumbo 1 Improvements + Other Program Updates

Posted by Plaza Wholesale on July 28, 2021

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.

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

Quick-Compare our Jumbo Programs

Posted by Plaza Wholesale on July 8, 2021

Plaza Home Mortgage® gives you two great options for offering Jumbo loans to your borrowers. Our Jumbo 1 and Jumbo AUS programs are both excellent for your clients looking to purchase or refinance higher value homes.

Program Highlights:

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

We know New York – Visit our booth at 33rd NYAMB Conference and Tradeshow

Posted by Plaza Home Mortgage on June 25, 2021

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.

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Topics: Wholesale News, Mini-Correspondent News

FHA Update: Student Loan Debt Policy

Posted by Plaza Home Mortgage on June 22, 2021


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.

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

Quick Pricer

Posted by Plaza Home Mortgage on June 17, 2021

Price Loans Faster with Quick Pricer

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

Introducing RefiNow

Posted by Plaza Home Mortgage on June 15, 2021

Expand Your Borrowers’ Refi Options

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