Tag: rate/term

Modified Loans When Combining Deferred Balance – Rate-Term Refinance or Cash-Out Refinance?

Question: Our client has a first mortgage that was modified a couple of years after they purchased it.  The mortgage statement indicates a “deferred balance”.  If they want to combine these into one loan is this a cash-out or rate-term refinance? Answer: If there is no formal institutional 2nd lien on the property and he […]

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.

Broker’s Compensation Added to Loan Amount for a Rate/Term Refinance & Lender Credit.

Question: Can broker compensation be added to the loan amount on a rate/term refinance when we are using a lender credit towards the closing costs?  Or, does the borrower need to bring cash to closing for the broker compensation? NEW MC Chart – Lender Paid & Borrower Paid Uses for Refinances and Credits Answer: Following […]

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.

Scroll to Top