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Plaza News + Updates

Program Improvements: 550 FHA and VA FICOs

Posted by Plaza Home Mortgage on June 17, 2022

Plaza Home Mortgage® is excited to share recent program improvements to help you provide borrowers more leverage in qualifying to meet their home finance goals.

Effective today, FHA and VA guidelines have been updated with reduced FICOs to 550 and an increased max LTV for cash-out on manufactured homes from 65% to 80%.

FHA and VA Update Details:

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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

MBA Secondary and Capital Markets Conference 2022

Posted by Plaza Correspondent on March 22, 2022

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.

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Topics: National Correspondent News, Plaza at a Glance, Plaza Events

[Correspondent] Plaza has exciting new changes to Manufactured Housing, FICO’s, VA Jumbo and our Overlay Matrix!

Posted by Plaza Correspondent on February 14, 2022

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

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Topics: National Correspondent News, Plaza at a Glance

BIG NEWS: Now Accepting Correspondent Reverse Jumbo Loans!

Posted by Plaza Correspondent on February 4, 2022

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.

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Topics: National Correspondent News, Plaza at a Glance

Fannie Mae HomeView Counseling

Posted by Plaza Home Mortgage on January 21, 2022

Fannie Mae recently released Fannie Mae HomeView™, a new homeownership education course that aligns with National Industry Standards for pre-purchase homeownership education, and can be used to fulfill the education requirement for most mortgage products. HomeView is an online course offered free of charge. Plaza’s program guidelines have been updated to reflect Fannie Mae HomeView homeowner education program as an eligible source of counseling.

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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

Big Updates to Jumbo

Posted by Plaza Home Mortgage on December 10, 2021

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.

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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

2022 Higher Conforming Limits!

Posted by Plaza Home Mortgage on December 1, 2021

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!

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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

New! Jumbo AUS 2 is Now Available

Posted by Plaza Home Mortgage on November 16, 2021

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:

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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

Now at Plaza for Correspondents: Encompass Investor Connect

Posted by Plaza Correspondent on November 9, 2021

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.

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Topics: National Correspondent News, Plaza at a Glance

‘Fun in the Sun’ at the MBA Annual Convention

Posted by Plaza Correspondent on September 29, 2021

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.

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Topics: National Correspondent News, Plaza at a Glance