PHM_Blog_Hero_820

Plaza News + Updates

VA Renovation – We’ve Got It!

Posted by Plaza Home Mortgage on April 9, 2021

We are happy to announce to our clients that, effective immediately, Plaza Home Mortgage® is once again offering the VA Renovation loan program!

Read More

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

Introducing FlexClose – A Better Way to Fund

Posted by Plaza Home Mortgage on March 31, 2021

Funding on Your Schedule, Even After-hours and Weekends

Read More

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

Reverse Jumbo Expands to NV, NY

Posted by Plaza Reverse on March 31, 2021

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.

Read More

Topics: Wholesale News, Wholesale Program Updates, Jumbo Reverse

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.

Read More

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

REMINDER: New 92009-A Form Requirements

Posted by Plaza Wholesale on March 17, 2021

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.

Read More

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

Wholesale Program Update: Jumbo 1

Posted by Plaza Wholesale on February 22, 2021

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.

Read More

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

Home Possible and USDA Program Updates

Posted by Plaza Home Mortgage on February 9, 2021

Home Possible
In alignment with the Freddie Mac Bulletin 2020-45, Plaza Home Mortgage® has updated the Home Possible® program guidelines, effective for all loans purchased on or after March 1, 2021. Specifically, this update reduces the maximum LTV from 95% to 85% for certain Home Possible Mortgages secured by 2-4-unit properties.

Read More

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

Hello New Year – Goodbye AMF Fee

Posted by Plaza Wholesale on January 5, 2021

Great news! Plaza Home Mortgage® has extended our waiver of the 50bps Adverse Market Refinance Fee on all Agency Express refis to February 26, 2021. Agency Express, available to our Wholesale and Mini-Correspondent channels, gives you faster turn times on core Fannie Mae® and Freddie Mac loans. Close in as little as 10-15 days! Learn more by going to our info page or contacting your Plaza Account Executive.

Read More

Topics: Wholesale News, Wholesale Program Updates, Plaza at a Glance

New Super Low Rates on Government Programs

Posted by Plaza Wholesale on December 28, 2020

Plaza Home Mortgage® now offers rates as low as 1.75% on all government loan programs! Combined with Plaza’s superior client service and unparalleled experience with government lending, there has never been a better time to work with us.

Read More

Topics: Wholesale News, Wholesale Program Updates, Plaza at a Glance

2021 FHA Loan Limits

Posted by Plaza Wholesale on December 11, 2020

The FHA has announced an increase to new forward loan limits for 2021. The new loan limits will be effective for case numbers assigned on or after January 1, 2021. FHA forward mortgage limits for individual MSAs and counties are available here.

Plaza will align with FHA’s effective dates and accept the new loan limits for case numbers assigned on or after January 1, 2021.

Please contact your Plaza Account Executive if you have any questions about the new limits or their implementation date.

Read More

Topics: Wholesale News, Wholesale Program Updates, Plaza at a Glance