Weekly Product Updates 07/02/09 - 07/10/09

 

Friday, July 10th. 2009

 

To All MetLife Approved Brokers

 

 

The following products have been updated:

 

DU Refi Plus

***REMINDER***

 

• Only loans receiving a DU Refi Plus approval are to be closed under DU Refi Plus product code(s).

The final DU findings must include the following feedback message:

“This loan casefile was underwritten according to the DU Refi Plus expanded eligibility criteria guidelines offered on certain limited cash-out refinance loan casefiles where borrower’s existing loan is identified by DU as a Fannie Mae loan.  This loan casefile must be delivered with Special Feature Code 147”.

• Special Feature Code 147 must be included on all loans that receive a DU Refi Plus approval and are closed under a DU Refi Plus product code.

 

Conforming Generic Fixed and ARMs

Conforming Plus Fixed and 5/1 ARM

Conforming Plus (Temporary 2009)

Refinance (Rate/Term)

Underwriting / DU

Underwriting / LP

Underwriting / Manual

Special Feature Codes

• Loans that receive a DU Refi Plus approval but are not eligible under MLHL guidelines must be manually or LP underwritten.
• Special Feature Code 147 must be removed if the loan is not closed under DU Refi Plus.

 

 

Conforming Generic Fixed

Effective July 17, 2009 as follows:

Loan must be received and registered in the branch no later than

Friday, July 17^th before noon.

Underwriting/Manual

LTV Matrix

• Primary Residence, 2 Unit, Purchase / Rate Term Refinance

• 75% LTV / CLTV, 640 credit score

(previously, 620)

 

My Community Fixed and ARMs

Effective July 17, 2009 as follows:

Loan must be received and registered in the branch no later than

Friday, July 17^th before noon.

 

LTV Matrix

• Primary Residence, 2-4 Unit, Purchase / Rate Term Refinance

• 80% LTV / 95% CLTV, 680 credit score for manually underwritten loans

(previously, 640)

 

 

Rita Kama-Kimura

Wholesale Account Representative

(808)  275-8006   direct

(808)  864-0520   cellular

 

 To maximize communication it's wise to "Reply to All"

 

Confidentiality notice:
This e-mail message, including any attachments, may contain legally privileged and/or confidential
information. If you are not the intended recipient(s), or the employee or agent responsible for delivery
of this message to the intended recipient(s), you are hereby notified that any dissemination,
distribution, or copying of this e-mail message is strictly prohibited. If you have received this message
in error, please immediately notify the sender and delete this e-mail message from your computer.