Three rulebooks. No overlays.

The matrix sets the limits. The guidelines say how to document the file. Cake adds no overlays on top of either, and the underwriters who apply them work here.

Open the current PDFs

  1. Non‑QM

    v5.0    Effective August 3, 2026Full doc Bank statements P&L only WVOE only 1099 Asset utilization
    Open the Non‑QM PDF(opens in a new tab)

    Governs

    • Bank Statement & P&L-Only programs – no tax returns needed
    • Use assets for income over 60 months (Crypto Included)
    • Loan Amounts up to $4M
    • Common-sense credit with in-house exceptions

    Alternative documentation first lien guidelines for non-qualified mortgage products. Designed for borrowers who don't meet traditional QM standards.

  2. DSCR

    v5.0    Effective August 3, 2026DSCR, 1 to 4 units DSCR, 5 to 8 units Foreign national
    Open the DSCR PDF(opens in a new tab)

    Governs

    • DSCR as low as No Ratio
    • Short-term rental income allowed
    • First-Time Investor & Foreign National programs
    • No personal income docs required
    • 5-8 Unit Properties available

    Investment property financing based on debt service coverage ratio analysis. Perfect for real estate investors and rental property acquisitions.

  3. Closed‑end seconds

    v2.0    Effective April 1, 2026Closed-end second
    Open the Closed‑end seconds PDF(opens in a new tab)

    Loan limits by program

    The matrix sets the limit for your loan amount, credit score, and CLTV combination.

    • CLTVs up to 90%
    • All occupancy types eligible
    • Cash-out, debt consolidation, or home improvements

    Second lien mortgage guidelines for closed-end home equity loans. Access your home's equity with fixed-rate and also predictable payments.

Programs and limits

A gray area? Ask before you submit.

Underwriting is in-house, so a guideline question goes straight to the underwriters who use these guidelines every day. Policy changes are posted in announcements.

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