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Wholesale – Credit Policy – Revised Overlays

Effective Immediately

On Q Financial, Inc. has updated our overlays to add, remove and clarify certain scenarios. Below is an overview of the changes that will take effect for all loans in process.

On Q Financial, Inc. now allows Singlewide Manufactured Homes and properties with greater than 20 acres!

Overlays – Wholesale and Non-Delegated


  • Combined both Non-Delegated and Wholesale Overlays onto one document
  • Borrower Eligibility: If the borrower has purchased or refinanced their primary residence within the last 12 months, will be retaining the property, and the subject is a new primary residence the file must contain an occupancy waiver from the Servicer on the previous primary residence, as required by section 6 of their Security Instrument.
  • Freddie Mac HomePossible Program and Overlay requirements
  • GNMA Seasoning Sections to include GNMA pooling requirements


  • Ineligible Assets – Trade Equity
  • Assets – Down payment funds cannot be gifted on loan amounts greater than $750,000
  • Escrow Holdback – removed requirement that property must be complete prior to funding/purchase
  • Mortgage Credit Rejects
  • Parcels exceeding 20 acres
  • Owner Occupied Only for VA
  • Ratios- VA Purchase >50% DTI
  • Singlewide Manufactured Homes
  • Manufactured Housing – AUS approval required for FNMA and Freddie, Max 80% LTV and borrower must have a minimum of 5% contribution from own funds

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