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Plaza News + 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

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

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

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

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

Reverse Lending Back in NY

Posted by Plaza Reverse on March 31, 2021

Reverse mortgages are now back in New York. If you’re not currently set up to offer these powerful programs to seniors in your market, visit our reverse mortgage page or talk to your Plaza Account Executive today to learn how easy it is with Plaza.

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Topics: Reverse HECM, Wholesale News, National Correspondent News, Mini-Correspondent News

NEW Lower FICOs for FHA, USDA and VA

Posted by Plaza Home Mortgage on March 17, 2021

Plaza Home Mortgage® is making it easier to qualify more borrowers with reduced minimum FICO requirements for our FHA, VA and USDA programs! For these core loan programs, the new minimum FICO has been lowered to 600 for FHA and VA and 620 for USDA. We have also updated our popular FHA 203(k) program, which combines financing for the purchase or refinance of a home and its renovation into a single loan, to have a new reduced minimum FICO of 620.

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Topics: Wholesale News, Wholesale Program Updates, National Correspondent News, FHA Loans, USDA Loans, Mini-Correspondent News, Government Loans, VA Loans, National Correspondent Program Updates, Mini-Correspondent Program Updates