LenderMAC

• All non-QM only need 30 days statement for asset (one month bank statement or VOD), no sourcing large deposits. Up to 3 units with one ADU is okay. Minimum tradeline waived if there are 3 fico scores. AltMac combines options using: WVOE, P&L, 12 or 24 month bank statement and 1 yr 1099 income option. No W2, no tax returns, no 4506C. Max DTI 50%. No limit on cash out.
• Bank statement purchases max LTV 90% (SFR), minimum expense factor down to 10% instead of 50%. Free AI software, upload statements to get income calculations almost instantly. InvestorMac is DSCR, four different DSCR tiers, >1.3, 1-1.299, minimum 0.75 or minimum 0.5, details in guideline matrices. F1 student visa okay. Refinance vacant property okay. First time buyer or investor living rent free is okay. Lender paid comp plan okay. YSP credit to broker. EquityMAC is for close end second for non QM (VOE, P&L, 1099, bank statement & DSCR). Foreign national eligible for VOE, P&L & DSCR. ForeignMAC is for foreign national qualifying option: VOE, P&L and DSCR. Borrowers recently got green card without fico or credit history can fit to this program. ITINMac is for borrower without SSN using ITIN to qualify loan. Options are W2 and paystubs, 2 year tax returns or P&L only similar to stated income. PorfolioMAC is WVOE or 3 months personal bank statement. Business owner or self-employ can use Borrower Self-Prepare P&L, or 3 month personal bank statement deposit as income (no expense factor), or 6 month business bank statement (50% expense factor) also okay. This program required to source large deposits on bank statements. Only available in CA, GA, NJ, TX, VA. Jumbo loan amount above 4 million to 10 million for CA only, case by case exception.
• Flexibility on appraisal. You can choose one of our eight approved AMC, you have more control of appraisal orders.
• MLOs can originate out of state Non-QM loans without licenses for investment (business purpose). Not just DSCR, also for VOE, P&L, bank statement doc type.
• Loans submitted before 12 noon PST get same day approval. Mininum 4 items needed for approval, accurate 1003, credit, borrower authorization, escrow fee sheet or use default system fees. All other items can be as conditions after approval.

HELOAN not available for TX & NY