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Volume 2018 - Number 20

October 5, 2018

Quicken Loosens Underwriting on Jumbos

Quicken Loans recently made a number of adjustments to its underwriting standards for jumbo mortgages, including allowing for lower downpayment requirements and increasing amounts available for cash-out refinances. For certain jumbos, Quicken will now allow downpayments as low as 10.0 percent with no mortgage insurance required. To qualify, the loan amount must be less than $1.0 million and a borrower must generally have a credit score of at least 760 and a debt-to-income ratio ...

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With loan volumes declining, does your shop have plans to enter the non-QM lending market in 2019?

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