Module 6: Programs and Products - Refinance - United States Department ...
嚜燙ingle Family Housing Policy Handbook 4000.1: Title II Insured Housing Program Forward
Mortgages Origination through Post-Closing/Endorsement
Module 6: Programs and Products - Refinance
As of June 30, 2016
Presented by:
Kevin Stevens, Director
Single Family Housing, Home Mortgage Insurance Division
The information in this document is current as of the Last Update date noted above. This document does
not establish or modify the policy contained in FHA*s Handbooks and Mortgagee Letters in any way.
FHA*s Office of Single Family Housing Training Module
2
2
FHA*s Office of Single Family Housing Training Module
Introduction
The Programs and Products 每 Refinances section of the Handbook
provides Mortgagees FHA*s underwriting requirements for the
following allowable refinance transactions:
? Cash-Out Refinances
? No Cash-Out Refinances
每 Rate and Term Refinances
每 Simple Refinances
每 Streamline Refinances
? Negative Equity Positions Program (Short Refi)
3
FHA*s Office of Single Family Housing Training Module
Refinance: Definition
A Refinance Transaction is used to pay off the existing debt or to
withdraw equity from the property with the proceeds of a new
Mortgage for a Borrower with legal title to the subject property.
4
FHA*s Office of Single Family Housing Training Module
Types of Refinances
? Cash-Out Refinance:
每 A Cash-Out Refinance is a refinance of any Mortgage or a withdrawal
of equity where no Mortgage currently exists, in which the Mortgage
proceeds are not limited to specific purposes.
? No Cash-Out Refinance:
每 A No Cash-Out Refinance is a refinance of any Mortgage in which the
Mortgage proceeds are limited to the purpose of extinguishing the
existing debt and costs associated with the transaction.
5
................
................
In order to avoid copyright disputes, this page is only a partial summary.
To fulfill the demand for quickly locating and searching documents.
It is intelligent file search solution for home and business.
Related download
- government program for mortgage reduction
- conventional government assistance programs refinance repair mortgage
- than 160 languages united states department of housing and urban
- government mortgage programs for seniors
- calhfa government loan programs matrix california
- government backed mortgage insurance financial crisis and the
- federal government refinance mortgage programs
- module 6 programs and products refinance united states department
- conventional government assistance programs refinance repair
- consumer benefits of government mortgage finance programs in 2009
Related searches
- united states department of education
- united states department of education we
- united states department of education website
- united states department of treasury
- united states department of energy
- united states department of finance
- united states department of education forms
- united states department of the treasury irs
- united states department of education accreditation
- united states department of insurance
- united states department of the treasury organization
- united states department of education student loans