Changes to CMG MI’s Conforming, Non-Conforming & EZ Decisioning Guidelines – Effective 1/31/12

To enable you to qualify more members for homeownership, CMG MI is removing four Florida markets from our geographic limitations list, as a result of market condition improvements:

• Deltona-Daytona Beach-Ormond Beach, FL
• Miami-Miami Beach-Kendall, FL (MSAD)
• Orlando-Kissimmee-Sanford, FL
• Tallahassee, FL

Please note that condominiums will continue to be ineligible in the Miami-Miami Beach-Kendall, FL MSAD.

Review Our Updated Guidelines at a Glance, Effective 1/31/12

We’ve updated our easy-to-read document – Guidelines at a Glance – with the latest changes. It’s a great tool for busy Credit Union professionals.

You may also review Credit Risk Bulletin #1-12 for a summary of the 1/31/12 changes to our program guidelines. Also available is a Guidelines Comparison Matrix.

The following should be noted:

• Changes supersede previously issued CMG MI approved program variations
• Changes apply regardless of submission channel to CMG MI
• Changes apply regardless of any Automated Underwriting System (AUS) recommendation or decision

Click here to watch our video on the January 31 changes!

Changes to Conforming, Non-Conforming and EZ Decisioning Program Guidelines, Effective 1/31/12

• As a result of market condition improvements, the following 4 Florida MSAs/MSADs are being removed from the geographic limitations list:
• MSAs/MSADs:
• Deltona-Daytona Beach-Ormond Beach, FL
• Miami-Miami Beach-Kendall, FL (MSAD)
• Orlando-Kissimmee-Sanford, FL
• Tallahassee, FL
• Condominiums continue to be ineligible in the Miami-Miami Beach-Kendall, FL MSAD.
• Please see our Guidelines at a Glance for markets that are subject to geographic guideline limitations

Please note the following:

• Changes supersede previously issued CMG MI approved program variations
• Changes apply regardless of submission channel to CMG MI
• Changes apply regardless of any Automated Underwriting System (AUS) recommendation or decision

We recommend you make any necessary changes to your systems and notify your staff and branches as soon as possible. Questions? Please contact your CMG MI Account Executive.