 | 5/9/2008
Announcement 08-25: New Fee Sheet - Please begin using the new Fee Sheet on all new submissions.
Click Here For Details |
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| 5/9/2008
Announcement 08-24: Platinum Mortgage servers will be down for scheduled maintenance on Sunday, May 11th, 2008.
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| 4/11/2008
Announcement 08-22: Platinum Mortgage servers will be down for scheduled maintenance on Saturday, April 12th, 2008.
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| 3/28/2008
Announcement 08-21: FHA/VA Pricing & Discontinuation of DU Expanded Approval Program
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| 3/20/2008
Announcement 08-18: IMPORTANT CHANGES to Flex 100, Flex 100 w/LPMI, MyCommunity and Home Possible
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| 3/3/2008
Announcement 08-10: LPMI Rate Increases for Borrowers with credit scores below 700.
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| 12/18/2007
Due to continuing volatility in the Alt-A market, Platinum Mortgage is eliminating the Alt-A program effective immediately for an indefinite time period. However, the DU SISA EXPRESS program is still available at this time. |
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| 12/4/2007
RE-REVISED ALT-A GUIDELINES: See revised Alt-A guidelines posted effective for locks received AFTER today. Maximum LTV's and minimum credit scores have been revised, as well as eliminating the No Ratio and NINA documentation options. |
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| 11/14/2007
THANKSGIVING HOLIDAY NOTICE--Platinum Mortgage Operations Underwriting Center and Secondary Marketing Lock Desk will be closed Thursday, November 22, 2007 & Friday, November 23, 2007 for the Thanksgiving Holiday. We will re-open for business Monday, November 26, 2007. |
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| 11/9/2007
REVISED ALT-A GUIDELINES: See revised Alt-A guidelines posted effective today. Maximum LTV's and minimum credit scores have been revised, as well as limiting LTV/CLTV for some borrowers with multiple property ownership, and restricting properties located in declining markets. |
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| 11/9/2007
UPDATE ON SELLER FUNDED DPA: HUD released an announcement that due a federal court order, HUD will continue to accept any previously accepted non-profit, seller funded DPA program for down payment on FHA loans until the end of February 2008 or further notice. |
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| 10/26/2007
SELLER FUNDED DPA UPDATE: HUD released an announcement yesterday that the AMERIDREAM DPA program has been given an extension. FHA loans which will use the Ameridream Seller-Funded DPA program are acceptable as long as the contract with all addendums is signed by all parties on or before February 28, 2008. In addition, HUD's previous Federal Register Notice gives an extension to the Nehemiah Seller-Funded DPA program on contracts signed on or before March 30, 2008. Platinum Mortgage will accept these loans which are in compliance with FHA requirements. |
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| 10/26/2007
HUD CUTS OFF ACCEPTABILITY OF SELLER-FUNDED DPA NON-PROFITS: FHA has issued Federal Register Notice 72 FR 56002, which prohibits any FHA-insured transaction whereby the buyer receives funds to cover their minimum required investment from any Down Payment Assistance program which derives their funds from the seller of the transaction. This is effective October 31, 2007. This means any transaction with this type of assets for funds for closing, must have the sales contract (included ALL addendums) signed and agreed to by all parties BEFORE this date. |
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| 10/2/2007
REMINDER: VA Funding Fee for subsequent users with no (less than 5%) downpayment reverts back to 3.3% effective October 1, 2007. |
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| 10/2/2007
NEW ALT-A PROGRAM NOW AVAILABLE!!! Rates and Guidelines posted online. |
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