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I stumbled across this after a little research, fueled by the initial direction/guidance of Matt and Adam. The following is a link to the 2009 SIFMA (Securities Industry and Financial Markets Association) Settlement Dates calendar: http://www.sifma.org...
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Quote on both web page, then supported on the phone by LO, and also sent to me at the time in email: 4.75% with zero cost (no points, no fees). So $35 application fee, and $350 appraisal fee, was paid, along with agreement to $500 "lock cancellation...
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You will get the refund amount when you receive your case number. If you want to estimate it before then (getting the case number will take a day), you can use the chart in the following Mortgageee Letter: http://portal.hud.gov/pls/portal/docs/PAGE/FHA_HOME...
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Here are a few others I use often: http://portal.hud.gov/portal/page?_pageid=73,1&_dad=portal&_schema=PORTAL http://www.huduser.org/ https://entp.hud.gov/idapp/html/hicostlook.cfm
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MIP is calculated as follows and is contained in HUD Mortgagee Letter 2008-16 Refund of Upfront Premiums . Refunds of upfront premiums are available to borrowers refinancing to another FHA-insured mortgage within a three-year time period, as shown below...
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I think the biggest problem many LOs have is quoting a rate that is not available and floating in the hopes that the market will hit that rate. If you educate your customers, you will have the advantage over your competition because of the insight you...
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Curt, As I mentioned in another thread, the interest rate on the underlying loans in a MBS is typically around 0.5% higher than the pass-through coupon rate. This 1/2% difference is the servicing and guaranty premium. The guaranty premium charged by Ginnie...
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Generally, there are 3 types of verifications. The Verification of Employment form [or VOE in the vernacular], the Verification of Loan and the Verification of Deposit . A written VOE, which I assume is what you want answered, lays out info requested...
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Bi-weekly mortgage payment plans are one of the many ways to accelerate your mortgage . You can either sign up for them before your loan is closed, or after. If you want to do it right from the start, you need to talk to your mortgage broker and ask them...
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This is a good question and a seemingly simple question with a somewhat complicated answer. Although the cliche "it depends" is the short version of the answer, it depends on a few more variables. In short, yes, all rates for all mortgages , all other...