BMG Exclusive Products

Portfolio Jumbo Features

• Available June 1, 2011

• NO MI
• Loans to $1.5 Million (70% LTV/80% CLTV)
• Vacation/Second Homes allowed
• Up to 85% LTV/CLTV
• Cash Out to 80% with 720 FICO
• Self Employed Full Doc Bank Statement
allowed at 50% LTV/CLTV
 Portfolio Jumbo Features:
• Less than 90 days off MLS allowed
• No Condo’s
• Minimum loan amount $417,000
• Escrow Waiver allowed at < 80%LTV
• Max DTI 45%
• Reserve requirement: 12 months PITI
LTV/CLTV 750 + credit score 700-749 credit score 680-699 credit score
Property Type
(max)
First Position First position First position
50%/50% Self Emp Full Doc Bank State 1,000,000 800,000 675,000
70/80% SFR, Townhome 1,500,000 800,000 675,000
SFR, Townhome 1,250,000 800,000 675,000
80%/85%
Second Home (SFR, Twhse) 1,000,000 675,000 --
SFR, Townhome 1,000,000 675,000 500,000
85%/85%
Second Home (SFR, Twhse) 750,000 500,000 --
Portfolio Niche Products:

• Utility Leaseholds (example: Georgia

Power Leaseholds on lakes)
• Log Homes
• More than 4 financed properties
• Non-warrantable Condos
• Self Employed Full Doc 24 Month Bank
Statement
Portfolio Niche Features
• All Niche products available June 1
• Georgia Power/Utility Leaseholds
– No minimum year requirement on lease
Georgia Power Leasehold (Primary residence or second home)

Loan Amt Max LTV Min FICO

Max DTI Max CLTV Reserves

1 unit < =$417,000 89.99% 700 40 89.99% 24 Mo PITI

$650,000 75% 700 40 75% 24 Mo PITI

$1,000,000 65% 700 40 65% 24 Mo PITI

• Log Homes
Log Home (Primary residence only)

Loan Amt Max LTV Min FICO Max DTI Max CLTV Reserves

Log Home < =$417,000 80.00% 700 40 89.99% 24 Mo PITI

Portfolio Niche Features

• More Than 4 Financed Properties

– Max of 15 financed properties. Require 2 year
history as landlord if more than 4 properties

More than 4 financed properties

(Primary residence only)
Loan Amt Max LTV Min FICO
Max DTI Max CLTV Reserves

1 unit < =$417,000 89.99% 700 40 89.99% 24 Mo PITI

$650,000 80% 700 40 80% 24 Mo PITI

$1,000,000 70% 700 40 70% 24 Mo PITI

Portfolio Niche Features

• Condo
– 36 month old condo conversion, no more than
30% rental units
– Phase must be 100% complete, 25% of units sold
– Common grounds 100% complete

Condo (Primary residence only)

Loan Amt Max LTV Min FICO

Max DTI Max CLTV Reserves

Condo
< =$417,000 80.00% 700 40 89.99% 24 Mo PITI
Portfolio Niche Features

• Self Employed Full Doc 24 Month Bank

Statement
– Can be used for both Jumbo and Niche
– No TRV’s
– Available for First Time Homebuyers
Self Employed Full Doc 24mo. Bank statement
(Primary residence only)

Loan Amt Max LTV Min FICO

Max DTI Max CLTV Reserves

1 unit < =$417,000 80.00% 700 40 89.99% 24 Mo PITI

$650,000 70% 700 40 80% 24 Mo PITI

$1,000,000 60% 700 40 70% 24 Mo PITI

Guidelines for Bank
Statement Program
These apply in addition to Portfolio Niche Program Guides:

• ‘Self Employed’ is defined as those borrower(s) who file a

Schedule C, S-Corp (1120’s), LLC, 1099 Schedule C and/or
Partnership (1065’s) returns.
• Borrower must provide evidence that the business exists.
• Business must be based in the United States.
• First time homebuyers allowed with 12 month rental history.
Payment shock not to exceed 125%.
• Provide 24 months personal bank statements.
• 24 months PITI in addition to funds to close. All assets used for
down payment and reserves must be verified with a full VOD.
Guidelines for Bank
Statement Program
• Business accounts can be used for funds to close/reserves (see
restrictions).
• No gifts for down payment and/or reserves.
• Employed Co-borrower’s document income using full
documentation. One borrower must be self-employed.
• Provide 6 months cancelled checks for business debts on credit
report.
• All collections opened in the past 24 months must be satisfied
prior to closing.
• No TRV’s.
• Minimum 18 months self-employment and in the same line of
work.
• No layering with other Niche products
Caveats of Jumbo and Niche
• All loans priced at 99.00 and require 1% origination
• No gift funds for down payment or reserves
• Full VMG appraisal required
– 2 required if Loan Amount > $1M
• Must use Nationwide Title and Closing for both Title
work and closing
• 3/1 or 5/1 ARMS only
• No declining markets
• No interest-only
• No investment property
• Available in GA, AL, TN, NC, SC, VA only
 QUESTIONS?

Brand Mortgage Group, LLC | Corp HQ: 6224 Sugarloaf Pkwy, Suite 300 | Duluth, GA 30097 | NMLS# 75615