SUBJECT: Enhancements to REMN’s Access Product

DATE: February 3, 2023

REMN Wholesale’s is pleased to announce positive enhancements to our Access product suite. The detailed changes below are effective for loans locked on or after February 6, 2023 (cannot be applied to locked pipeline loans).

Interest-Only DSCR Calculation

Previously, the Interest-Only feature on Investor Cash Flow loans required full PITIA to calculate DSCR. Interest-Only (ITIA) calculation is now allowable with the following parameters:

  • Maximum LTV 75%
  • If LTV is > 75%, then DSCR must be qualified based on fully-amortized payment (PITIA)
  • Minimum FICO of 700
  • Post-Closing reserve requirements for eligible loans will be based on the ITIA payment, rather than PITIA payment

First Time Homebuyer

  • Previously, FTHB borrowers who lived rent-free were not eligible, based on the inability to meet the 250% payment shock requirement. Rent-free FTHB borrowers are now eligible with the following parameters:
  • Allowable for Full Doc, Bank Statement, 1099-Only, and P&L-Only
  • Asset Qualifier and Investor Cash Flow ineligible
  • Maximum LTV capped at 80%
  • P&L-Only max LTV is 75%
  • Minimum FICO of 680
  • P&L-Only minimum FICO is 700
  • Primary Residence only
  • Letter of explanation from current residence owner/leaseholder, verifying borrower’s rent-free status

Unlicensed MLO – Investor Cash Flow

  • Virginia is now an eligible state

Updated guidelines can be found at

**Please contact your Account Executive with any questions**