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Lender Alerts

Lender Alerts

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Update on Seasoning requirement on VA IRRRL Loan Program

Dear Licensed Partner,

Pursuant to the "Notice of Lender Alert: Seasoning requirement on VA IRRRL Loan Program" released on October 25th, 2016, Sun West Mortgage Company, Inc. (SWMC) would like to provide an update and a reminder in regards to the mortgage seasoning requirement for VA IRRRL loan program.

SWMC is pleased to notify that it has extended the date to submit loans that do not meet seasoning requirement to November 4th, 2016.

Effective for all VA IRRRL loans submitted after November 4th, 2016, the following requirements must be met.

  • Mortgage must have a minimum of six consecutive months of mortgage payments without any late payment. Payment cannot be prepaid to meet the seasoning requirement.
  • Maximum recoupment period is 120 months for ALL VA IRRRL products.
  • Minimum FICO of 620 remains unchanged.

If any VA IRRRL in the pipeline is NOT meeting above requirements, loan MUST be submitted and locked with Sun West by November 4th, 2016 and disbursed by December 31st, 2016. Lock extensions and re-locks are not allowed if the loan does not fund by December 31st, 2016.

To access the guideline:

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 New No Overlays Program


Equal Housing Opportunity 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.