Non-Agency Updates for FlexIQ UW Standards

Effective August 12^th for new locks, Onity announces the following update to our FlexIQ product:

• Section 4.9 – Removed existing language regarding multiple properties owned and replaced with clarifying language.  This change allows the borrower to have an unlimited number of properties financed when purchasing an investment property, subject to Onity guidelines for maximum loans to one borrower.
• Section 9.4.1.1 – Removed bullet containing language for limited reviews for condominiums.  Added an exception under Full Review for FL Condos.  

If you have any questions, please contact your Correspondent Specialist, Sales Executive or contact us via the support line at 1-800-929-4744.