Due to the impact of the Coronavirus, many investors and agencies are providing updates to their available loan programs. DocMagic is keeping abreast of these changes and will be making updates accordingly.
Alabama Housing Finance Authority: Alabama Housing Finance Authority (AHFA) is suspending acceptance of new reservations effective immediately. Updates will be sent when the acceptance of reservations resume.
New Hampshire Housing Finance Authority: New Hampshire Housing Finance Authority is suspending taking loan reservations until further notice.
Sierra Pacific Mortgage: California's Sierra Pacific got the word out that, "...we are only accepting brokered loan submissions. We are currently not accepting any Correspondent submissions...".
Cornerstone: Announces the temporary suspension of the Jumbo product and update to available lock periods, effective immediately.
CO_JUMBO51 JUMBO 5/1 LIBOR ARM 2/2/5 CAPS - CORNERSTONE
CO_JUMBO71 JUMBO 7/1 LIBOR ARM 2/2/5 CAPS - CORNERSTONE
CO_JUMBO101 JUMBO 10/1 LIBOR ARM 2/2/5 CAPS – CORNERSTONE
Home Point Financial Corporation: Announces temporary suspension of the HomeStyle and FHA 203(k) renovation programs, effective March 27, 2020.
JP Morgan Chase: Chase Bulletin CB20-12, effective 3/27/20. Chase is discontinuing the Chase Advantage Agency and Chase Advantage Non-Agency products. No locks after 3/272020.
CMMC_475 475 - ADVANTAGE NON-AGENCY 5/1 LIBOR ARM - CHASE
CMMC_476 476 - ADVANTAGE NON-AGENCY 7/1 LIBOR ARM - CHASE
CMMC_477 477 - ADVANTAGE NON-AGENCY 10/1 LIBOR ARM - CHASE
CMMC_481 481 - ADVANTAGE AGENCY 5/1 LIBOR ARM – CHASE
CMMC_650 650 - ADVANTAGE NON-AGENCY 20/25/30 FIXED RATE - CHA
CMMC_651 651 - ADVANTAGE NON-AGENCY 10/15 YEAR FIXED RATE - C
CMMC_652 652 - ADVANTAGE AGENCY 20/25/30 FIXED RATE - CHASE
CMMC_653 653 - ADVANTAGE AGENCY 10/15 YEAR FIXED RATE – CHASE
For questions regarding these changes and other investor related issues, please contact Investor Relations at firstname.lastname@example.org.