Ineligible Mortgage Loans

Requirements

ARM LoansARM LoansMortgage Loan with an interest rate that periodically adjusts based on an Index per the Note or Loan Documents. cannot be Tier Dropping Supplemental Mortgage LoansTier Dropping Supplemental Mortgage LoansA Supplemental Mortgage Loan where the combined Underwritten DSCR of the Supplemental Mortgage Loan and all Pre-Existing Mortgage Loans is below the minimum Underwritten DSCR of the original underwriting Tier of the Senior Mortgage Loan, or the combined LTV of the Supplemental Mortgage Loan….