Correspondent ALERT – Update to Edge Non-QM CPA P&L Eligibility
The Arc Edge Non-QM eligibility for the CPA Prepared P&L program was updated as noted below, effective immediately for all loans. The revised Arc Guideline Update Summary, which provides a side-by-side comparison of the guideline revisions, will be published on the website soon.
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Edge – Alt Income |
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Topic |
Previous Guideline |
New Guideline |
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CPA P&L Income Eligibility |
· Eligibility follows other Edge Alt Income documentation types |
· Max 75% LTV when FICO < 720 |
The updated program matrix will be published on the website soon (HERE). As a reminder, the Arc Underwriting Guide is available within the SPARC portal HERE.