With all the recent changes going on, IndyMac sent out a nice little niche sheet highlighting what they do and don’t do these days in the way of wholesale lending.
For agency conforming, IndyMac allows a max loan-to-value of 95%, max DTI of 60%, full doc or fast forward, with a minimum Fico score of 575.
Super jumbo is now full doc only, available only on primary and second homes, with a max LTV of 85% for rate and term refinances and purchases, 80% for cash-out refinances, on loan amounts up to $2 million.
The downside is that a whopping 12 months reserves are required with a minimum Fico score of 680 and max DTI of 40%.
Regarding Alt-A loans, only SIVA and full doc are available with a minimum Fico score of 660.
And now what they no longer do, at least for now:
No construction or lot loans
No stated jumbo loans
No stated investment properties
No Option-ARMs
No “NINA, No Doc, No Ratio” doc types
No Commercial
No 100% refinances or purchases
No VA or “Govie” loans
No lender-paid mortgage insurance
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