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Credit Overlay Changes

As previously announced, most of how you conduct business with the new Flagstar entity will remain the same, however after further review of the credit overlays, the following changes have been made:

  • No longer accept loans with a property type of Manaufactured Home
  • No longer accept loans with a temporary buy down
  • Temporary suspension of FHA $100 down payment program with a 203b repair escrow hold back due to system limitations
In addition, the Delegated Delivery Quick Reference Guide has been updated to include contact information for the lock desk for pricing assistance on Best Efforts loans.

We look forward to continuing to serve you and work with you to set a new standard of excellence in correspondent lending.

Sincerely,
The Flagstar Team


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