Arc Home Wholesale ALERT – EXPANDED Out of State DSCR for Arc Access Non-QM!

Arc Home is excited to announce an expansion to the Out of State Debt Service Coverage Ratio (DSCR) licensing within our Arc Access Non-QM program, effective for loans registered on or after April 3, 2023. The new states now eligible for this origination option are identified below.

Arc Home will allow Brokers, and the Loan Officers authorized to represent those Brokers, to originate DSCR (business purpose) loans for properties located in the Permitted States* without a license, provided that the Broker and Loan Officer are currently approved and active in at least one other state (as reflected in NMLS).

*Permitted States

·         Colorado

·         Connecticut

·         Florida

·         Maryland

·         Massachusetts (NEW)

·         Ohio (NEW)

·         South Carolina (NEW)

·         Texas

·         Virginia

·         Washington

·         Washington, D.C. (NEW)

For example, a Broker and representative Loan Officer licensed in California, and approved by Arc Home, may originate a DSCR loan in Florida (even if they are not licensed in Florida) when the Broker and Loan Officer are currently approved and active in at least one other state (per NMLS).

Important Notes

·         Licensing for all Brokers approved by Arc Home for Non-QM origination, and their respective Loan Officers, has been updated to allow Out of State DSCR loan submissions in the Permitted States*. If you are not yet approved by Arc Home for Non-QM business, partner with your Arc Home Account Executive to update your eligible programs today.

·         The process for submitting DSCR loans to Arc Home via the SPARC portal remains unchanged. Refer to the Wholesale Training page for important SPARC training videos and job aids. As a reminder, a full completed Arc Access NQM Initial Submission Checklist is required.