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A stop advance applies to first-lien loans that are delinquent by 180 days or more, while a stop advance requirement applies to second-lien loans that are delinquent by 60 days or more.
Among the products disappearing from menus in September included those for cash-out refis and investor home purchases, the Mortgage Bankers Association said.
Fannie, Freddie and Ginnie loan eligibility now rests on AUS findings, with scores kept for pricing. KBW cut UWM's price target to $1.50 as it launches a $400M rights offering.
At the end of the draw term, HELOC borrowers have a repayment period ranging from 10 to 30 years, and customers cannot draw on the HELOCs during the repayment period.
The deal is backed by recently originated, 30-year fixed-rate mortgages with an average combined loan-to-value ratio of 75.1%, according to Morningstar DBRS.
