The expansion includes increased loan-to-value ratios, according to the mortgage insurance company. It also includes more easing in required FICO scores.
The changes were detailed in Radian eBulletin #2017-1 issued Thursday.
Radian said that it will now insure AIG's Connective Jumbo program under its non-agency jumbo offering. The product is offered by AIG Investments, a subsidiary of
On construction-to-permanent loans, the maximum LTV ratio has been increased to 97 percent. The expansion applies to One Underwrite automated underwriting system loans and manual underwriting where AUS is not required.
In addition, required FICO scores on manually underwritten construction-to-permanent loans have been lowered to 680 from 700.
Radian said AUS documentation waivers are eligible for its Medical Professional Program with loan amounts up to
The updates become effective on all M.I. applications received on or after
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