The Arc Edge Non-QM guidelines for the Agency Plus program were updated as noted below, effective immediately for all loans.

The revised Arc Guideline Update Summary, which provides a side-by-side comparison of the guideline changes, and updated program matrix will be published HERE on the website soon. As a reminder, the Arc Underwriting Guide is available within the SPARC 2.0 portal (HERE).

Effective immediately for all Freddie Mac loans, Arc Home will align with the changes communicated in Freddie Mac Bulletin 2023-24 for the topics below.

·         Cash-Out Refinance Mortgage Occupancy: Updated guidelines to require that all borrowers must occupy the subject property for a cash-out refinance of a Primary Residence. Refer to Freddie Mac Selling Guide Section 4301.5 for complete details.

·         Appraisals – Market Condition Adjustments: Clarified guidelines to provide examples of acceptable data sources that may be used when determining and in support of adjustments for changes in market conditions over time. Refer to Freddie Mac Selling Guide Section 5605.06.

Effective for Freddie Mac loans with an application dated on or after January 30, 2024, Arc Home will align with the changes communicated by Freddie Mac in Bulletin 2023-22 for the topic below.

·         Unacceptable Appraisal Practices: Updated guidelines to expand the list of unacceptable appraisal practices. Refer to Freddie Mac Selling Guide Section 5603.4 and Selling Guide Section 5605.1 for details.