Deal Desk | Exception Request

* Exceptions will NOT be considered for any Arc Prestige, Arc Elite, Conventional Investment, FNMA/FHLMC Second Home & Investment. *

** The exception form is located below the exception restrictions, please review the restrictions and continue to the bottom of the page. **

Exception Restrictions

At this time, Arc Home will not consider exceptions submitted for transactions when any of the items noted below are present.

Borrower Eligibility

Borrowers (U.S. Citizen, permanent or non-permanent resident alien) who do not have a valid and verifiable legal address within the U.S.
DACA borrowers
Personal transactions for owner/principal of mortgage brokerage or correspondent lender originated within own company
Closing in the Name of an Entity where the Entity has layered ownership
CPA PTIN Verification
More than 7 NSFs in the most recent year

Debt Service Coverage Ratio (DSCR)

True First Time Homebuyers who have never held ownership in a property ever.
The use of gift of equity
Intervivos Revocable Trusts
DSCR < .75

All Program Requirements

Qualify and escrow with tax exemptions, such as a homestead exemption
Escrow Holdbacks
Loan amounts less than minimum loan amount
Loan amounts greater than $4,000,000.00
LTVs greater than program maximum
Waiving more than four (4) months reserves for programs that require at least 12 months of reserves
Waiving reserves for programs that require six (6) months or less
Residual income below the minimum
DTI greater than 55%
Mixed use properties that do not meet Fannie Mae requirements
Unique properties
More than 25 acres
Self employment less than 1 year

Note: All loans must adhere to Higher-Priced Mortgage Loans (HPML)/Regulation Z and Ability to Repay/Qualified Mortgage (ATR/QM) regulations.

2023 Arc Home LLC | All Rights Reserved | Nothing in this document shall constitute a commitment to lend or guaranty to lend at a specified rate or under any specific terms and conditions. Eligibility to participate in any and all commercial lending programs are subject to credit review, underwriting and subject property approval. Programs, rates, fees, terms and conditions are subject to change at any time and without notice.
Arc Home LLC conducts business as Arc Home Loans LLC in AR, FL, IL, MO, TX and WI and, as Arc Home LLC, a limited liability company of Maryland, in OR.

10/02/2023

Fields marked with asterisk (*) are mandatory

Please Note: Exceptions which are granted may be subject to a price adjustment. The price adjustment cannot be waived. By checking this box you acknowledge that a price adjustment will be applied to the loan. Exception pricing costs are based on the approved exception and are subject to change until the loan is locked. In addition, any changes to the loan may result in a change to the exception cost.

Client Company

Closing Date

Requestor Name

Requestor Email Address

Channel

Account Executive/Loan Officer

Account Manager

Borrower #1 Last Name

Borrower #1 First Name

Borrower #2 Last Name

Borrower #2 First Name

Exception Category

Exception Type 1

Exception Type 2

Loan Number

Loan Program

Doc Type

Citizenship Status

Property Address

Property Type

Occupancy

Loan Purpose

Loan Amount

Appraised Value

Purchase Price

Cash Out Amount

LTV

CLTV

DTI

DSCR

FICO Borrower #1

FICO Borrower #2

Employment Type Borrower #1

Employment Type Borrower #2

Total Monthly Income

Current PITIA

Proposed PITIA

# Properties Owned

Total Closing Cost

Months of Reserves

Exception Details (What, specifically, is not meeting guidelines?)

Compensating Factors to Support Request (check all that apply, be as accurate as possible)

Total Reserves?

# Months

Years in Same Job?

# Years

Years Clean Housing History?

# Years

Years in Current Home?

# Years

FICO?

FICO

LTV?

LTV

Residual Income?

Residual Income

DTI?

DTI

Additional Notes or Comp Factors (purpose of cash-out, if prior exception granted on loan, request within acceptable framework, etc.)

Document File(s)