Episode 5 of Rick’s Picks includes:
- Excellent initial training for you and your office on the FHA Streamline, including the Low MI option.
- Some important HARP Refi improvements
- See the folks who won the catered lunch for winning the Crescent Mortgage TV Show naming contest!
Two important Items NOT included in the video:
1) HARP Refi’s must have a payoff in the file at time of submission or they will be held out of underwriting as “incomplete” until they do.
2) ALL FHA STREAMLINES MUST MEET THE NET TANGIBLE BENEFIT requirement as outlined in Mortgagee Letter 2011-11 (Reduction in Term is NOT a Net Tangible Benefit per HUD, FYI)
Here’s the STREAMLINE COVER SHEET link referred to in the video: CLICK HERE