Delegated Underwriting

For clients approved for Delegated underwriting, we review and purchase closed loans, both Agency and Non-Agency, in an efficient and transparent process that you can rely on. We have a proven track record of best-in-class service and true partnership. That means that you can always count on your dedicated sales and operations account representatives to answer the phone and work together towards mutual success.

AmeriHome’s Delegated Agency Loan Purchase Life Cycle

Fast. Easy. Accurate.

Credit Philosophy

AmeriHome’s credit philosophy focuses on salability issues and only conditioning for “must-have” documentation. We acknowledge our clients’ ability to make lending decisions that satisfy both their borrowers’ needs as well as agency requirements, which allows for a true partnership and a transparent, streamlined, and efficient process.

Products

Agency

Fannie Mae

    • Standard Conforming Balance Program (Fixed)
    • Standard High-Balance Program (Fixed)
    • HomeReady® (Fixed)
    • Texas 50(a)(6) (Fixed)
    • Available Delegated and Non-Delegated

Freddie Mac

    • Conforming Program (Fixed)
    • Super Conforming Program (Fixed)
    • Home Possible® (Fixed)
    • HomeOne® (Fixed)
    • Texas 50(a)(6) (Fixed)
    • Available Delegated and Non-Delegated

FHA

    • Conforming and High-Balance (Fixed)
    • Streamline Refinance – Conforming and High Balance (Fixed)
    • Available Delegated and Non-Delegated

VA

    • Conforming and High-Balance (Fixed)
    • VA IRRRL Conforming and High-Balance (Fixed)
    • Available Delegated Only at this time

USDA

    • Guaranteed Rural Housing Program – Conforming and High-Balance (Fixed)
    • Streamlined Refinance (Fixed)
    • Available Delegated Only at this time

Non-Agency

Portfolio Express

    • Fannie Mae’s Desktop Underwriter® (DU®) drives the underwriting process 
    • Loan Amounts up to $2.5M
    • Minimum Loan Amounts of the Fannie Mae General Loan Limit + $1
    • Primary residence, vacation homes, and investment properties
    • Purchase, refinance, and cash-out options available
    • Cash-out available up to $500,000
    • Loans for single-family homes, condominiums, and 2-4 unit properties
    • QM/Appendix Q requirements do not have to be met

Portfolio Jumbo

    •  Manually underwritten full income documentation
    •  Loan Amounts up to $3M
    • Minimum Loan Amounts of the Fannie Mae General Loan Limit + $1.
    • Primary Residence, 2nd Homes, and Investment Properties, including 1-4 units
    • DTI up to 45%
    • Purchase and Rate & Term up to 85% LTV/CLTV with no MI

Portfolio Expanded

    • Income Documentation Flexibility
    • Loan Amounts up to $2.5M
    • Purchase and Rate & Term up to 80% LTV
    • Cash-out available up to $500,000
    • Credit Scores from 680
    • DTI’s up to 50%
    • Primary, 2nd Home, and Investment Property options
    • Investment Property options including 2-4 units & cash out and borrower may have up to 20 Financed Properties
    • First Time Homebuyers eligible
    • Non-Warrantable Condos eligible

Scratch & Dent

  • Agency and Non-Agency Fall Out
  • Fannie & Freddie
  • Jumbo & Non-QMAgency repurchases
  • DTI’s up to 50%
  • Newly originated or seasoned loans
  • Full appraisals required (PIW loans require a Drive-by)
  • Max 1×30 last 24 months, must be current
  • Compliance related issues considered
  • Must be US Citizens or Permanent Resident Aliens

Delegated Commitment Options

Best Efforts

Best Efforts Commitments, also referred to as “Best Efforts Locks,” allow sellers to lock-in a price for the delivery of a single mortgage loan for a specific property and borrower(s), without incurring fees if the mortgage loan is not closed and not purchased by AmeriHome.

Bulk

Bulk Trade Commitments provide sellers with the ability to obtain competitive pricing on a specific set (specified pool) of identified mortgage loans that fit the terms of the commitment requested, AmeriHome eligibility guidelines, and the terms of the seller’s agreement with AmeriHome. Sellers can commingle multiple eligible products and multiple interest rates into a single bulk trade. The delivery of the identified mortgage loans is mandatory and failure to do so under the terms of the commitment confirmation will result in the assessment of a pair-off fee. Bulk trade commitments are managed by the AmeriHome Trade Desk.

Bulk Assignment of Trade

Bulk Assignment of Trade Commitments (Bulk AOT) provide Sellers with the ability to obtain competitive pricing on a specific set (specified pool) of identified Mortgage Loans. Seller can commingle multiple eligible products and interest rates into a single Bulk AOT Trade. TBA Hedges may be assigned against Loans in the Bulk Commitment that conform to certain requirements. Minimum TBA trade assignment is $500,000. AmeriHome accepts (only) the assignment of TBA securities.

For more information on how AmeriHome can help you grow your  business!