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Closed End 2nds
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Closed End 2nds
Closed End 2nds
Table of Contents
Introduction
Program and Requirements
Property Eligibility
Transaction Types
Borrower Eligibility and Requirements
Credit
Assets
Income Documentation
Senior Liens
Transaction Types
Transaction Types
Section 4.0 Transaction Types
4.1 Eligible Transactions
Purchase
Rate & Term
Cash-out
4.1.1 Cash‐out Seasoning
Properties owned over 6 months, no restrictions. Properties owned less than 6 months ineligible.
4.2 Non‐Arm’s Length
Non-arm’s length transactions ineligible.
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