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Positive Changes to Temporary COVID-19 Overlays

Dear Valued Clients –

Effective immediately, Fairway Wholesale Lending has removed the temporary COVID-19 policy related to Conventional Cash-Out Refinances and will begin accepting locks for Conventional Cash-out Refinance transactions.  Along with the reinstatement of the Conventional Cash-out Refinance program, Fairway is also lowering the minimum FICO to 620 for BOTH Conventional Rate-term Refinance and Cash-out Refinance transactions.

For more information on COVID-19 Temporary Guidance, see Fairway’s guidelines. 

Please contact your Regional Account Manager should you have any questions related to this Client Announcement

 

Client Announcement 2020-05-27