Broker resources
For mortgage professionals only. Not intended for distribution to consumers.
UW turn time: 18 hrsupdated August 27, 2026, 8:00 AM CTLock desk: 8:00 AM – 6:00 PM CT
For mortgage professionals only. Not intended for distribution to consumers.
Broker resources
Fastest-path placement based on the single attribute driving the file. Confirm against the full grid below — layered risk (FICO × LTV × event seasoning) always prices and qualifies off the matrix.
| Line item | DEN Full Doc · Bank Stmt · 1099 · P&L · WVOE · Asset Qualifier |
CORE Residential NQM · Full Doc · Bank Stmt · Asset Depletion · No Ratio · 1-Yr P&L |
PACE 6 matrices (NQM 1/2/3/4/13/15) · Full Doc · Bank Stmt · 1099 · P&L · WVOE |
CREST Expanded Prime Plus · Sharp A+ · Sharp A− · full & alt doc |
|---|---|---|---|---|
| Program shape at a glance | ||||
| Doc types offered | ★Widest menu: Full Doc, 12/24-mo Bank Stmts, 1099 Only, P&L Only, WVOE Only, Asset Qualifier, Asset UtilizationPlus ITIN/DACA/EAD and Foreign National overlays on most doc types | Full Doc (wage & SE), 12-mo Bank Stmts (personal / business / blended), Asset Depletion, No Ratio, 1-Yr P&L (per supplement)No 1099-only, no WVOE-only, no ITIN | 24-mo Full Doc, 12/24-mo Bank Stmts, 1/2-yr 1099, 12-mo P&L (± bank stmts), WVOEAvailability varies by matrix — e.g. WVOE not allowed on NQM1/2/4/15; no asset-only program | Full Doc (incl. 1099), Streamline 1-yr Doc (incl. 1099), 12/24-mo Bank Stmts, 12-mo P&L, WVOE, Asset Depletion, Asset QualifierSharp A− drops P&L, WVOE and asset programs |
| Credit grading concept | One program; risk handled through LTV/loan-size matrix + doc-type overlays | Two matrices: Residential (consumer) and Investor (DSCR) | Six parallel rate sheets — best execution auto-selects by profile | ★Tiered credit grades: Expanded Prime Plus → Sharp A+ → Sharp A− with progressively looser housing historyGrade drops = seasoning drops (48 → 36 → 24 mo) |
| Loan amount, LTV & score headline matrix numbers | ||||
| Max LTV — primary purchase | 90% to $2MM @ 740 (DTI ≤43) or $1MM @ 700Full Doc / Bank Stmt / 1099 / Asset Qualifier grid; 85% to $2MM @ 720 | 90% (max 89.99%) @ 720 to $1.5MM85% @ 680–700 to $2MM | 90% @ 700 to $2.5MM (NQM3) / $2MM (NQM13)85% @ 680 across NQM1/2/3/13 | 90% @ 720–740 to $1MM (EPP & Sharp A+, full or alt doc)85% to $1.5–2MM at 700+ |
| Minimum FICO | ★600 (full doc, 65%, $1MM, DTI ≤40)620 standard bottom tier; 1-score / no-score borrowers possible to 75% w/ overlays | 660 | 620 (NQM3, to 65–75%)640–660 floors elsewhere | 660 all grades |
| Max loan amount | $4.0MM @ 60% LTV, 740$3.5MM @ 70%; Asset Qualifier capped $3MM; P&L/WVOE capped $2MM | $3.5MM @ 70%, 700 (primary purch/R&T only)$3MM tier @ 75–80% | ★$4.5MM @ 70–75%, 720 (NQM3, all occupancies)Largest Non-QM check in the lineup | $3.5MM @ 60–65%, 720+ (EPP)Sharp A+ $3MM · Sharp A− $2MM |
| Minimum loan amount | $100k | $100k | $100k (NQM1/2/3/13) · $150k NQM15 · $200k NQM4 | $150k |
| Max LTV — primary cash-out | 80% @ 720 to $1.5MM | 80% @ 720 to $1.5MM | ★85% @ 700 to $2.5MM (NQM3) | 80% @ 740 to $1MM (EPP) |
| Max cash-in-hand | Unlimited ≤75% LTV; $500k above 75%P&L/WVOE-only grid: unlimited | Primary/2nd: unlimited ≤65%, $1MM above · Investment $1MMCash-out proceeds may count toward reserves | ★No limit on NQM3 at any LTVOther sheets: $500k–$2MM tiered; NQM1/15 unlimited ≤70% | Unlimited ≤60% LTV; above 60%: $750k EPP / $500k A+ / $250k A−Cash-out counts toward reserves |
| Max DTI | 50% (43% above 85% LTV); full doc to 55% w/ 680+, ≤70%, purch/R&T & residual income | 50% | 50% (45% above 85% LTV on NQM13; NQM15: 43% below 680) | 55% on EPP w/ 700+, ≤80%, primary, no FTHB, 1.5x residualSharp A+ 50% · Sharp A− 45% |
| Residual income test | DTI >50: greater of $2,000/mo or 0.5% of loan, else +6 mo reserves | $2,500 program limitation (per matrix) | DTI >43 or HPML: $1,500 (1 in household) / $2,500 (2) + $150 each add'l | |
| Bank statement program | ||||
| Statement options | 12 or 24 mo · personal or business · comingled treated as business | 12 mo · personal, business, or blended accounts24-mo underwrite can substitute for 2-yr business-existence proof | 12 or 24 mo · personal & business | 12 or 24 mo · personal or businessLaminr auto-calc plus Greenline / AccountChek accepted |
| Personal-statement income calc | 100% eligible deposits ÷ months; 3 mo business stmts to verify sourcePre-tax paycheck amounts usable | Total eligible deposits ÷ 12; business-to-personal transfers OK w/ recent biz stmt | Total eligible deposits ÷ 12 or 24; 2 mo business stmts required to prove separation | Lowest of statement average or 1003-disclosed income; 2 mo business stmts; comingling pushes file to business-statement rules |
| Business expense factor | ★Tiered service-business factors: 15% / 30% / 50% by employee count (0 / 1–5 / >5); product businesses 50%Or P&L method (75% deposit support) or CPA-letter ratio | 50% default; lower to 10% floor w/ CPA/EA/CTEC letter or P&L | 50% fixed, or third-party expense statement to 10% floor | Service 15/30/50%; product 25/50/85% by employeesP&L or 3rd-party ratio options floored at 15%; ratios below 15% get bumped to 15% |
| NSF / overdraft policy | No hard count — LOE + credit-management escalation if "excessive" (UW discretion) | Max 3 instances per 12 mo / 6 per 24 mo; same-day NSFs count once | Max 3 per 12 mo; up to 6 allowed if zero in last 3 mo; LOE | |
| Large-deposit trigger | Deposits abnormal in form/amount/frequency (guide example: >50% of avg) must be sourced | Non-business-source deposits deducted (SSI, transfers, refunds) | >50% of average monthly deposits → LOE; if LOE sufficient, no sourcing needed | ★Trigger only above 100% of monthly income — most forgiving threshold; LOE, no sourcing if consistent |
| Self-employment history | 2 yrs same business; 18–23 mo OK w/ max 80% + 6 mo extra reserves; 12–18 mo by exceptionPassive-income investors & tip-industry earners also eligible (24-mo stmts) | 2 yrs; or 1+ yr w/ 1 yr prior same line of work (VOE) | 2 yrs; 1–2 yrs OK w/ +6 mo reserves and 2 yrs same line of work | 2 yrs existence validated (license, tax-preparer letter, SoS filing)Passive/portfolio-only income borrowers ineligible |
| Declining-deposit rule | No fixed cap; stability must be rationalized or 12 more months required | 12-mo: >10% decline 6-over-6 needs 12 more months · 24-mo: >10% YoY decline is ineligible | Declining on 24-mo file → qualify on last 12 mo only; LOE | |
| 1099-only qualification | ||||
| Program & expense factor | Dedicated 1099 Only product; 1–2 yrs of 1099s less flat 10% expense ratio24-mo average if stable/increasing; 12-mo if declining | 1–2 yr 1099s; borrower-narrative expense factor, 10% minimum | ★1099s run through Full Doc/Streamline — as low as 0% expense factor if employer confirms no job-related expenses (else 10%) | |
| 1099 verification | 1099/W-2 transcripts required — documented fallback path (90% bank-stmt receipts or issuer WVOE) if unavailable | 1099 transcripts required; entity-issued 1099s need CPA letter confirming 2 yrs Schedule C | Transcripts required; entity-issued 1099s need 100% ownership documented; YTD proof within 10% of qualifying income | |
| P&L-only & WVOE-only | ||||
| P&L-only program | 12- or 24-mo P&L by CPA/EA/CTEC who filed borrower's returns; preparer add-backs allowedOverlays: 680 min, 0x30x12, no derog events in 4 yrs, $2MM cap, 80% purch / 75% refi | 1-Yr P&L (supplement): 2 yrs SE, 50% min ownership, US business ≥2 yrs; 2-mo biz stmts within 35% tolerance if preparer didn't file returns | 12-mo P&L standalone or w/ 2-mo bank stmts (deposits ≥90% of P&L revenue; up to 6 mo)Sheet-dependent: NQM3 to 85% @ 700+; NQM2 requires bank-stmt version; NQM15 720 min | 12-mo P&L: EPP/Sharp A+ only, 80%/75% caps, 660 min; P&L end-date ≤60 days old; lower of P&L or 1003 incomeBorrowers who file their own returns ineligible |
| WVOE-only program | 2 yrs same employer, no family; 2-mo bank stmts showing ≥60% of stated wage; 0x30x24; 680 min; $2MM capFTHB capped 70%; no gifts when all borrowers are FTHB | Matrix-restricted: owner-occupied only on NQM3/13 (80% FTHB cap); not allowed on NQM1/2/4/15FNMA 1005, 2-yr history, 1 yr at current job, no family employers | EPP/Sharp A+ only: 80%/75% caps, 660 min; 1005 direct from employer; 2 yrs industry + 1 yr current job; no family employers | |
| Asset-based qualification | ||||
| Program design | ★Asset Qualifier — 3 calc methods (125% of all mortgage debt · 110% of loan + 25% other debt · 100% of loan + 36 mo debt service); no DTI; $1,500/mo residual; $3MM cap | Asset Depletion (income = assets ÷ 36 mo; ÷ 84 if sole income source) + No Ratio (assets ≥ 100% of note + reserves + 12 mo payments) | Asset Depletion (÷ 84 mo as income, DTI applies; min $1MM assets or 125% of loan) + Asset Qualifier (÷ 84 residual test, 125% of loan)85% max, 700 min, OO only, no cash-out, no gifts / business / foreign assets | |
| Asset haircuts | Cash 100% · securities 90% · retirement 80% (90% at retirement age) · liquidated crypto 100% | Cash 100% · stocks/bonds/funds 70% · retirement 70% (100% at 59.5+) | Cash 100% · stocks/bonds/funds 80% · retirement 70% · crypto 60% (Coinbase valuation ≤30 days)Only program with an unliquidated-crypto haircut path | |
| Credit profile | ||||
| Housing history | 1x30x12 allowed (LLPA + 80% cap); VOR waived on primary ≤75%; rent-free eligible w/ overlays | 1x30x12; less-than-12-mo history OK w/ 6 mo reserves + 10% borrower contribution (primary/2nd) | 0x30x12 required; rent-free borrowers ineligible (narrow ≤3-mo exception) | ★Graded: 0x30x12 (EPP) → 1x30x12 (A+) → 2x30x12 + 1x60x24 (A−) — deepest mortgage-late toleranceRent-free permitted as documented family dependent |
| BK / FC / SS / DIL seasoning | ★Tiered from 0 months: BK 0–12 mo (purch, primary, 70%, $1MM) · other events 13–24 mo · all events 2–4 yrs (75%, $1.5MM) · standard past 4 yrs | 48 months seasoned | 4 years; 7 years if multiple events | 48 mo (EPP) → 36 mo (Sharp A+) → 24 mo (Sharp A−)Multiple bankruptcies not permitted; 120+ day lates count as housing events |
| Forbearance exit | Reinstated + 3 timely payments post-forbearance (if payments were missed) | 0x30 in the 12 months since exiting forbearance, servicer-documented | ||
| Tradelines | 3 tradelines, 24-mo depth, 1 active in last 6 mo, 1 seasoned 24 mo; alternative-credit bridges; 1-score/no-score path (75% cap, $1MM, DTI 36) | ★3×12-mo or 2×24-mo — waived entirely at 700+ qualifying FICO | 2 tradelines 24-mo w/ activity in 12 mo, or 3 combined across borrowers | 2 tradelines w/ 12-mo history in last 24 mo, or 3 combined; non-income borrowers exempt |
| Collections & charge-offs | May stay open: individual ≤$2,500 and aggregate ≤$10k (medical unlimited); larger OK if no title impact | May stay open <$2,500 or past statute of limitations; larger offset via reserves or 5% payment in DTI | Pay off if >$5,000 individually or aggregate (medical exempt) | Pay off if >$5,000 within 3 yrs (title items always); medical <$15k exempt |
| Judgments & tax liens | May remain open ≤$25k aggregate if no title effect; repayment-plan path w/ 6-mo history | Judgments must be paid; tax liens survivable on purchases w/ 3-mo plan history | IRS plans OK if current and no property lien | Title-affecting items paid; IRS plans OK if current, no lien |
| Qualifying score logic | Primary income earner, middle of 3 / lower of 2 | ★Primary wage earner — but 50/50 bank-statement business partners may use the higher mid-FICO | Primary income earner; lowest score if incomes equal | Primary wage earner, middle of 3 / lower of 2 |
| Borrower types | ||||
| ITIN / DACA / EAD | ★ITIN eligible to 90% full-doc primary purchase (85% bank stmt/1099); DACA & EAD-without-visa paths; dedicated Exhibit F grids | |||
| Non-permanent residents | Eligible on visa or EAD; broad visa list | Eligible with US credit | Sheet-dependent: no overlays NQM1/2/3 · not allowed NQM4 · 75% cap NQM15 · 80% purch/R&T only NQM13 | 80% cap (EPP) / 75% (Sharp), purchase & R&T only — no cash-out |
| Foreign nationals (income-doc side) | FN eligible via Asset Qualifier (150% post-close liquidity) — wage/bank-stmt docs ineligible; 2nd-home purchase + investorSee DSCR table for FN cash-flow loans | FN restricted to DSCR program only | FN Plus program: qualify on foreign wage or SE income (translated), 65%, $1MM, 45% DTI, 12-mo reserves; 2nd home & investment only | |
| First-time homebuyers | Eligible; payment shock ≤350% when DTI >43 (waivable); no 12-mo rent history → primary only, 80% cap, 10% own fundsLookback: 5 years | FTHB may not purchase investment homes (matrix limitation) | NQM1/2/3: no overlays · NQM4: OO-only, 1-unit, no IO · NQM15: no IO + DTI 43 capRent-free FTHB ineligible (housing-history rule) | 3-yr lookback; payment shock ≤250%; DTI ≤50; no interest-only; rent-free FTHB permitted with no credit exception |
| Non-occupant co-borrowers | Allowed (doc types other than DSCR) | Allowed; occupying-borrower DTI >60% triggers LTV caps (80/75 by FICO) | Immediate relative only; 1-unit primary; DTI ≤43; +6 mo reserves; occupant must earn ≥75% of PITIA; purch/R&T only | |
| Assets, gifts & reserves | ||||
| Gift funds | Allowed for closing (not reserves); own-funds minimums by grid — 0% primary ≤80%, 5% above 80%, 10% investment/ITIN/FNGift of equity: primary & 2nd only, 75% LTV cap | 5% own funds on purchases — waived on primary <80% LTV; gifts usable for reserves w/ family letterGift of equity allowed at cash-out LTV limits, 6 mo own-fund reserves | Allowed from relatives; 5% own funds required above 80% LTV; not on investment properties; never toward reserves | 100% gift OK below 75% LTV; ≥75% needs 5% own funds; not on 2nd/investor >80%; never toward reserves; not with asset programs |
| Reserves (subject) | 4 mo ≤$1MM · 6 mo to $2MM · 12 mo to $4MM+2 mo per other REO; +2 mo above 80% LTV; doc-type adders (e.g. DTI>50, short SE history) | 6 mo to $2MM · 9 mo @ $2.5MM · 12 mo @ $3MM+Subject property only — cash-out proceeds count | NQM3: 3 mo ≤$1.5MM scaling to 12 mo >$3MM · NQM1: 6/9/12 · NQM13/15: flat 6 moCash-out counts; gifts & undrawn HELOCs do not | ★Sharp A− flat 3 mo at every tier; A+ 3/3/6/9; EPP 6/6/9/12+2 mo per financed property, capped 12 mo total; cash-out counts |
| Property & collateral | ||||
| Property menu | ★SFR, PUD, condo, 2–4, non-warrantable (80%), condotel (75%), co-op, manufactured, log, seasonal, mixed-use | SFR, PUD, TH, 2–4, condo, non-warrantable (80%)No condotel, co-op, manufactured, mixed-use, 5+ units | 1-unit + 2-unit OO; 1-unit 2nd homes; 1–4 investor; warrantable + limited non-warrantable (not in FL); NY-metro co-opsNo condotels, manufactured, mixed-use, log, leaseholds | SFR + ADU, 2–4, PUD, TH, leasehold, warrantable + non-warrantable condos, OO co-opsNo condotels, manufactured, mixed-use, log, 5+ units |
| Acreage / rural | Urban ≤10 ac; rural ≤20 ac (10+ must be typical); hard stop 50 ac | Rural: 15 ac primary/2nd, 5 ac investment; matrix caps rural at 75% purch / 70% refi; investor sign-off required | 20 ac max; >10 ac needs two similar-acreage comps; NQM15 rural = OO only, 70%, purch/R&T | 20 ac max; agricultural zoning by exception only |
| Non-warrantable condo terms | One non-warrantable feature to 80%; condotel/hotel-features to 75%; priced as NWC | Up to 40% commercial, 70% investor concentration, 30% single entity, 30% presale; 80% LTV cap | NQM3: 80% purch/R&T, 75% CO · NQM13: 85/80/75 · not allowed NQM1/4/15; FL condos must be fully warrantable | 80% cap (EPP) / 75% (Sharp); FL SB-4D structural-review projects by exception |
| Declining market | Max LTV −5% per appraisal flag | Per guide section (appraisal-flagged) | Max LTV −5% per appraisal flag | |
| Second appraisal trigger | Loan > $2MM (lower value governs); CU/LCA ≤2.5 or AVM/CDA support below $2MM | Third-party review (CU/LCA ≤2.5, CDA, ARR) within −10% (−5% above 85% LTV) | ||
| Terms & transaction mechanics | ||||
| Products / IO / 40-yr | 15/30-yr fixed, ARMs, 10-yr IO; 40-yr term w/ IO (680+, ≤80%)IO qualifies over remaining amortized term (20 or 30 yr) | 30 & 40-yr fixed; 40-yr fixed 10-yr IOIO qualifies over full 360-mo amortization — friendliest IO qual payment | Sheet-dependent: 15/30/40 fixed, 5/6–10/6 ARMs, fixed IO; NQM4 no IO; NQM15 IO needs 700+/80% | 3/6–10/6 ARMs, 15/30-yr fixed, 40-yr fixed IO; IO needs 700+ and 85% (EPP)/80% (A+); no IO on Sharp A− |
| Interest-only cap | 680 min FICO, 80% max | 80% LTV overlay (matrix) | NQM1 −5% LTV · NQM2 80% · NQM3 85% · NQM13 no overlay · NQM15 700+/80% | 700 min; 85% (EPP) / 80% (A+); none on A− |
| Escrows | Required >80% LTV (89.99% CA) and HPML; otherwise waivable | HPML only; LTV >85% per matrix | HPML (5 yrs) and Foreign National loans | |
| Seller concessions | 6% (Residential program) | |||
| Max financed properties | >15 blocks new 2nd-home/investment consumer loans; no limit via DSCR | ★No limit on financed propertiesExposure cap: 10 properties / $10MM to one borrower | >20 financed properties = borrower ineligible | 20 residential max; $7.5MM / 10-property exposure cap per guarantor |
| Property-flip rule | HPML re-appraisal rules apply (Residential); Investor program: seller on title 180+ days | Loan seasoning: close-to-lock ≤90 days | ||
| State / geography notes | Texas 50(a)(6) home equity supported with detailed urban/rural tests | Sheet-level exclusions — e.g. NQM15 blocks investor loans in several DE/MD/NJ/PA counties; NY subprime test on NQM2 | All 50 states + DC; no territories | |