Plaza News + Updates

Funding on Your Schedule, Even After-hours and Weekends

Plaza is now offering our popular Reverse Jumbo program in New York and Nevada in addition to 16 other states. Reverse mortgages can be a great way to expand your business’s portfolio and tap into a rapidly growing market. And with Plaza’s dedicated Reverse Lending Division to help you every step of the way, you can be confident offering the program. Contact your Plaza Account Executive or visit our reverse mortgage page for more information.

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.

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.

We are reminding our clients that, pursuant to HUD requirements, FHA case numbers assigned on or after March 22, 2021, will require the revised HUD 92009-A form on all Single-Family Forward Mortgages and Home Equity Conversion Mortgages (HECM). Plaza’s BREEZE LOS already supports the new 92009-A form, and can also generate and deliver the new 1003, plus typical broker disclosures, quickly and easily.

Join Plaza’s Jeff Leinan, EVP National Wholesale Production, and NAMB President Kimber White for an insightful discussion about the current and future state of the #mortgage market on Facebook Live, on Tuesday, March 16, at 9AM PT / 12PM ET.

How to Help Real Estate Pros in a Post-Refi World

The Plaza Home Mortgage^® Jumbo 1 program is now even better! We’ve updated our guidelines to allow W-2 transcripts and added information on payment recast options.

Click here to view the updated program guidelines.

If you have questions on these updates, please contact your Plaza Account Executive, or email us at hereforyou@plazahomemortgage.com.

Faster Closings with FHA Express

Take advantage of the new FHA Express submission option from Plaza Home Mortgage^® to accelerate closings on your qualifying core FHA loans. FHA Express is available for
W-2 and fixed income borrowers, for purchase, rate/term or cash-out refinances with Conforming or High Balance loan amounts. Qualifying loans receive expedited underwriting, are competitively priced and can often close in as little as 10 to 15 days.

And for your Fannie Mae^® and Freddie Mac loans, don’t forget that we have the Agency Express option as well.

Be sure to visit our information page for more details or contact your Plaza Account Executive today.

More Power for Going Big

Offer up to $2.5 million to qualified borrowers with the Jumbo 1 loan program from Plaza. Now your borrowers who are looking to purchase or refinance a higher-value home can take advantage of this program that offers flexible eligibility requirements and competitive rates and pricing.