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Lender Alerts

Lender Alerts

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Seasoning Requirement on FHA Cash-Out/Streamline
Refinance and VA Cash-Out/IRRRL Transactions
(Applicable to Wholesale Channel)

Dear Licensed Partner,

Sun West has updated its Government product guidelines with mortgage seasoning requirement for FHA Cash-Out/Streamline Refinance and VA Cash-Out/IRRRL transactions.

Effective for all FHA Cash-Out/Streamline refinance and VA Cash-Out/IRRRL loans submitted on or after January 27, 2018, following requirements must be met:

  • At least six (6) consecutive monthly payments must have been made on the loan being refinanced, beginning with the payment made on the first payment due date. Payment cannot be prepaid to meet the seasoning requirement, and;
  • The first payment due date of the refinance loan must be no earlier than 210 days from the first payment due date of the refinanced loan.

For any loans in pipeline NOT meeting the above-mentioned requirements, loan MUST be locked with Sun West by January 26, 2018 and disbursed by February 28, 2018. Lock extensions and re-locks are not allowed if the loan does not fund by February 28, 2018.

For additional questions not answered by the guideline, please email Sun West's underwriting scenario desk at for more information.

If you have any questions, please contact your Client Relations Manager at (855) OK-SUNWEST or (855) 657-8693.


Sun West Mortgage Company, Inc.

18000 Studebaker Road, Suite 200
Cerritos, CA 90703
Phone: (800) 453-7884

SW-1: Our No Overlays Program

This information is provided to licensed brokers/lenders only and may not be copied or distributed to customers or potential customers. All loans are subject to approval. Certain restrictions may apply. Listed pricing is a morning indication only. Program rates, prices, guidelines, fees, costs, terms and conditions are subject to change without notice.

Equal Housing Opportunity