Announcement

09.26.23 [2023-55] HELOAN-1 Program Updates

HELOAN-1 Program Updates

Announcement 2023 - 55

Effective 9/26/2023, MK Lending updated HELOAN-1 program guide. Please see following updates.

09.12.23 [2023-54] Wholesale Broker Credit Policy Update

Please click here for the instruction on DO sponsorship request.


09.11.23 [2023] Disaster Policy - Florida (Updated)

Announcement 2023 - Disaster Policy Update – Florida

Federal Emergency Management Agency (FEMA) announced a Major Disaster for the counties in Florida listed below due to Hurricane Idalia.

Reference: FEMA Announcement

Effective Date: August 30, 2023 to September 4, 2023

Designated Counties: Citrus, Dixie, Levy, Pasco, Pinellas, Taylor, Gilchrist, Jefferson, Lafayette, Madison, Suwannee, Columbia, Hernando, Hamilton, Manatee, & Sarasota


If the subject property is located in one of the designated counties above and the appraisal was completed on or before September 4, 2023 or did not require an appraisal, MK Lending Corp. will require an inspection report to determine the property’s condition using one of the following:

09.11.23 [2023] Disaster Policy - Georgia

Announcement 2023 - Disaster Policy – Georgia

<Georgia Hurricane Idalia>

Federal Emergency Management Agency (FEMA) announced a Major Disaster for the counties in Georgia listed below due to Hurricane Idalia.

Reference: FEMA Announcement

Effective Date: August 30, 2023 to September 9, 2023

Designated Counties: Cook, Glynn, & Lowndes


If the subject property is located in one of the designated counties above and the appraisal was completed on or before September 9, 2023 or did not require an appraisal, MK Lending Corp. will require an inspection report to determine the property’s condition using one of the following:

09.08.23 [2023-53] SNQ EZ Program Updates

Announcement 2023 - 53

 

 

SNQ EZ Program Updates

 

Effective 9/8/2023, MK Lending updated SNQ EZ program as follows:

 

  • Condominium LTV <= 60% rate adjustment 0.125% has been removed
  • Condominium LTV > 60% rate adjustment 0.375% has been reduced to 0.125%
  • Transferred appraisal not acceptable
  • Foreign National:
    • Credit Report to be pulled to check if there's any negative history. No Fico score required
    • All documents must be translated by a certified translator
    • Asset verification (must be in U.S. banking institutions)

 

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