FHA Refinances

Posted by admin on January 21, 2015

Effective 1/21/15, Lenders may no longer charge interest past the payoff date: HUD HAS CLARIFIED THAT THIS WILL BE EFFECTIVE FOR LOANS THAT CLOSE AFTER 1/21/15 ONLY

EXAMPLE 1: Original loan closed 7/30/14, refinance closing 1/30/15; full 30 days interest to be charged

EXAMPLE 2: Original loan closed 1/22/15, refinance closing 7/15/15 interest can only be collected through payoff date

New Disclosures will be forthcoming for loans closing on or after 1/21/15

 

equal-housing-lender-logo-vector.pngData Mortgage dba Essex Mortgage is an equal housing lender. The corporate office is located at 2200 W. Orangewood, Suite 150 Orange, CA 92868 California Department of Real Estate License No. 00936013 . California Department of Corporations #603-G833 NMLS License 70377 Data Mortgage Inc. Member FDIC

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