DATE: March 18, 2020 rev. March 23, 2020

**UPDATE – Due to the continuation of volatile secondary market conditions, REMN Wholesale is unable to proceed with any Non-QM or Jumbo loans. All Non-QM and Jumbo programs are suspended indefinitely, and may not be submitted, underwritten, locked or funded, until further notice**

Due to secondary market conditions, REMN Wholesale is immediately suspending all new Non-QM mortgage applications. This includes the Simple Access, Elite, and Expanded Plus suite of products. Pertinent details are below:

NEW APPLICATIONS (Broker and Emerging Banker)
• No new applications on ANY Non-QM product will be accepted

• The ability to lock loans is suspended for all Non-QM products
• Locked pipeline for the Expanded Plus and Simple Access product line will be honored through the lock period. There will be no extensions if the lock expires
• Locked pipeline for the Elite product line is still under review

• The Non-QM product is no longer available. If a loan is not already locked or if the lock has expired – the loan will be declined due to unavailability of the Non-QM product line
• New locks will not be accepted, and expired locks will not be extended, regardless of the reason why it expired

• All loans must fully comply with all guidelines exactly as published – there are NO EXCEPTIONS at this time

IMPORTANT NOTE: This guidance is subject to change without notice, based upon changes in the Secondary Market.

Please contact your Account Executive with any questions