Signature Platinum Guidelines
The Signature Expanded Platinum Underwriting Guidelines (v3.0.1) is an internal policy manual for CrossCountry Mortgage that defines the eligibility, documentation, and underwriting standards for the Signature Expanded Platinum mortgage program. The document covers every aspect of loan origination, including transaction types, applicant eligibility, income and rent determination, asset sourcing and reserve calculations, credit score and trade‑line requirements, treatment of liabilities, property type and condition restrictions, appraisal and valuation rules, title vesting options, insurance mandates, loan‑term and rate structures, qualifying ratios (DTI, residual income, DSCR), LTV/CLTV calculations, subordinate financing limits, pre‑payment penalty rules, regulatory overrides (HPML, high‑cost loans), and detailed exhibits such as LTV/FICO matrices and documentation age limits. It also provides state‑specific guidance (e.g., Texas Home Equity loans) and outlines prohibited asset types, ineligible property categories, and special scenarios such as short sales, 1031 exchanges, and gift‑of‑equity transactions. The guidelines are intended for underwriters, auditors, and loan officers to ensure consistent, compliant underwriting decisions across the program.
Topics
Rental Income Determination and Vacant Property Adjustments
Defines how rental income is calculated for various lease scenarios—including at‑will, short‑term, multi‑year, accessory units, and vacant properties—specifies required documentation, and outlines LTV reductions or adjustments applied to vacant or under‑performing units.