Countrywide Home Loans Implements Soft Market Guidelines

Countrywide Home loans implemented new guidelines and requirements for loans in Soft Market areas. In Arizona this applies to five counties (Maricopa, Mohave, Pima, Pinal and Yavapai).

This Policy applies to.

All loans including Home Equity

VA & FHA loans are exempt

Loan to Value (LTV) in categories 3, 4, & 5 are reduced are reduced by 5%.

Categories 3, 4, & 5 are described as areas

1--Where property values are declining

2—Property is located where there is an oversupply.

3—Market time is over 6 months.