No more than 0x30 in the last 12 months on any property
Major Credit
No more than 1x30 in last 12 months; 2x30 in last 24 months; overall credit must be
excellent
Minor Credit
No more than 2x30 in last 12 months; 3x30 in last 24 months
Collections, liens, charge-offs, etc.
No charge-offs, repossessions, credit-related judgments, or liens in last 24 months EXCEPT
for
isolated minor occurrences (disputed medical collections less than $500) with compensating
factors
Bankruptcy & Foreclosure
Over 36 months old with compensating factors and excellent re-established credit (several
major trades open with no delinquencies; no mortgage lates)
Current Delinquencies
All credit must be current at time of application
"A-"
Mortgage Credit
No more than 2x30 in the last 12 months on any property
Major Credit
No more than 30 days delinquent on any account in last 12 months; overall good credit
Minor Credit
No more than 30 days delinquent on any account in last 12 months EXCEPT for isolated minor
occurrences up to 60 days delinquent with compensating factors; overall, no more than 25%
of
accounts delinquent in last 12 months
Collections, liens, charge-offs, etc.
No charge-offs, repossessions, credit-related judgments, or liens in last 12 months EXCEPT
for
isolated minor occurrences (disputed medical collections less than $500) with compensating
factors
Bankruptcy & Foreclosure
Over 24 months old with compensating factors and excellent re-established credit (several
major trades open with no delinquencies; no mortgage lates)
Current Delinquencies
All credit must be current at time of application
"B"
Mortgage Credit
No more than 3x30 or 1x60 in last 12 months on subject property
Major Credit
No more than 60 days delinquent on any account in last 12 months; overall credit is
average
Minor Credit
No more than 60 days delinquent on any account in last 12 months EXCEPT for isolated
occurrences up to 90 days delinquent with compensating factors
Bankruptcy & Foreclosure
Over 24 months old with compensating factors and good re-established credit (some major
trades open with minor delinquencies; no mortgage lates)
Current Delinquencies
Mortgages, and most major and minor consumer credit, must be current at time of
application;
remainder of major and minor consumer credit no more than 30 days delinquent at
application
and must be brought current or paid off at closing
"C"
Mortgage Credit
Mortgage Credit
No more than 5x30 or 2x60 in last 12 months on subject property
Major Credit
No more than 90 days delinquent on any account in last 12 months; overall credit is fair
Minor Credit
No more than 90 days delinquent on any account in last 12 months EXCEPT for isolated
occurrences over 90 days delinquent with compensating factors
Bankruptcy & Foreclosure
Bankruptcy/foreclosure over 12 months old with only some or no re-established credit
Current Delinquencies
Mortgage cannot be delinquent at time of application
"D"
Mortgage Credit
No more than 2 months contractually delinquent (up to 89 days) at closing
Major Credit
Applicant is sporadic in some or all areas with a disregard for timely payments or credit
standing
Minor Credit
Applicant is sporadic in some or all areas with a disregard for timely payments or credit
standing
Bankruptcy & Foreclosure
Any bankruptcy/foreclosure within the last 12 months must be discharged/completed prior to
application
