Tag: recoupment

Net Tangible Benefit Requirements for FHA Refinance

Question: Does FHA require a 48-month recoupment as part of the Net Tangible Benefit for closing costs and non-finance MIP when a client is requesting a rate/term refinance? Answer: The 48-month rule you’re referencing is actually a lender overlay and not in FHA regulations. The following are typical exceptions to that overlay, but you’ll have […]

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VA-Circular 26-18-13 Policy Guidance Update: VA Refinance Loans and the Economic Growth, Regulatory Relief and Consumer Protection Act, Dated May 25, 2018-Effective for applications taken on or after May 25, 2018

By: Tracey Rumsey, Staff Writer Big news in the update that may affect VA loans already in your pipeline!   Read through this update to understand the policy guide and download our checklist to make sure that none of the loans in your pipeline are affected. Rule Synopsis: VA has published Circular26-18-13 which announces “The Protecting […]

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