2/4/2014 Priceweaver Mail - Overlay Changes - VA IRRRL Daily Rates <[email protected]> Overlay Changes - VA IRRRL CMG Financial Correspondent Lending <[email protected]> Reply-To: [email protected] To: Rates <[email protected]> Mon, Feb 3, 2014 at 11:30 AM Bulletin #2014-05 TO: Distribution DATE: February 3, 2014 RE: Overlay Changes - VA IRRRL EFFECTIVE DATE: February 10, 2014 CMG Correspondent Lending is announcing changes to our VA IRRRL Program Effective on any VA IRRRL loan locked on or after February 10th, 2014: The following overlays will be in effect: All transactions will require an AVM at the time of submission We will allow a maximum LTV to 150% There will be a price adjustment if the transaction exceeds 125% LTV to 150% LTV. (See rate sheet for pricing adjustment.) CMG does not have an exclusionary list for Vendors. Your AVM can be ordered through any HVCC approved appraisal management company. A 2075 appraisal will be accepted if an AVM is unavailable. The Overlay Matrix for this program will be updated on 2/10/14. It can be accessed on our website at www.cmgfi.com via the Seller Resources Tab / Overlay Matrix. Current Overlay Matrices: https://mail.google.com/mail/u/1/?ui=2&ik=cd24bf3831&view=pt&cat=CMG&search=cat&msg=143f93aa30f4b5f7 1/2 2/4/2014 Priceweaver Mail - Overlay Changes - VA IRRRL Please contact your Correspondent Liaison or Regional Manager with any questions. 3160 Crow Canyon Road, Suite 400, San Ramon, CA. 94583 | 925.983.3000 | NMLS #1820 | www.cmgfi.com © 2013, CMG Financial. All Rights Reserv ed. CMG Financial is a registered trade name of CMG Mortgage, Inc., NMLS #1820, 3160 Crow Cany on Rd, Ste 400, San Ramon, CA 94583. Intended f or mortgage prof essionals only . Not f or consumer distribution. Not a commitment to lend. Pricing and terms are subject to change without notice. To v erif y our state licenses, please v isit: www.nmlsconsumeraccess.com. For inf ormation about our company , please v isit us at www.cmgf i.com. Unsubscribe https://mail.google.com/mail/u/1/?ui=2&ik=cd24bf3831&view=pt&cat=CMG&search=cat&msg=143f93aa30f4b5f7 2/2