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Answers (18)
- Clay Branch, "Georgia Loans"
- Contributions:7839
Way to go Rodney! Now, repeat after me ROOOOLL TIIIIIIIDE!!!!
Well the Prez explained the extra money, I say if it is going to be charged and collected it should go to the MMI pool and offset the annual rates to a level that makes sense allowing many more people to streamline.
Well the Prez explained the extra money, I say if it is going to be charged and collected it should go to the MMI pool and offset the annual rates to a level that makes sense allowing many more people to streamline.
"everything worked out today. BofA did not charge extra month"
Glad to hear it.
Since that is now resolved...
LSU or Bama?
Glad to hear it.
Since that is now resolved...
LSU or Bama?
- rodney516
- Contributions:5
everything worked out today. BofA did not charge extra month
- Norm D Plume, "America Needs Nixon!"
- Contributions:1670
Go Gators!
FHA does 30 days interest because Ginnie Mae guarantees its investors a full months interest on any active loans.
Ginnie Mae holds VA and FHA loans mostly. VA doesn't allow the 30 days interest which is why you won't see it on VA loans though sometimes you'll see a slight tick higher in VA pricing vs FHA pricing. FHA allows, but does not require, 30 days interest. Of course by allowing it most lenders take advantage of it.
FHA does 30 days interest because Ginnie Mae guarantees its investors a full months interest on any active loans.
Ginnie Mae holds VA and FHA loans mostly. VA doesn't allow the 30 days interest which is why you won't see it on VA loans though sometimes you'll see a slight tick higher in VA pricing vs FHA pricing. FHA allows, but does not require, 30 days interest. Of course by allowing it most lenders take advantage of it.
- Hamp Yonce, "Zilluminati"
- Contributions:3463
My prediction. The Roll Dam Tide-2 LSU Poontangs -0
Blocked Punt!
Clay, did you see that Roll Tide/War Eagle documentary on ESPN? That's why I can't quit saying, 'Roll Dam Tide"!
Did that guy ever sue his LO? Thread all jacked up. Sorry, Rodney!
Blocked Punt!
Clay, did you see that Roll Tide/War Eagle documentary on ESPN? That's why I can't quit saying, 'Roll Dam Tide"!
Did that guy ever sue his LO? Thread all jacked up. Sorry, Rodney!
- Joe Cafiero, "Joe Cafiero"
- Contributions:3222
Nothing better than a college kicker with the shanks.
- Clay Branch, "Georgia Loans"
- Contributions:7839
LOL! We cant make a FG so we have to get in the end zone this time, or not...
This thread has been officially hijacked.
This thread has been officially hijacked.
- Joe Cafiero, "Joe Cafiero"
- Contributions:3222
I think we would all be happy if just 17 points were scored total.
- Clay Branch, "Georgia Loans"
- Contributions:7839
Cool, it's half the state of AL plus one Californian against the world. I think we will go old school for this one, run the wishbone :)
@ Rodney: On 2nd thought about the loan officer, did they ever tell you the loan needed to close by Nov 23 or 24?
@ Rodney: On 2nd thought about the loan officer, did they ever tell you the loan needed to close by Nov 23 or 24?
- Ray Blindauer, "SigmaWealth"
- Contributions:246
Roll Tide!
When you say "escrow closed" most people associate that with signing documents. This is not funded. As usual, Clay is right on and B of A didn't mess up, your loan officer did.
Sorry in advance Clay for your impending loss.
Sorry in advance Clay for your impending loss.
- Clay Branch, "Georgia Loans"
- Contributions:7839
I don't know but have always wondered about that. It should be changed to per diem interest like all other loans.
Roll Tide, we better win by 17 this time cuz no third chance :)
Roll Tide, we better win by 17 this time cuz no third chance :)
- Hamp Yonce, "Zilluminati"
- Contributions:3463
Clay
I hate to thread-jack but, who steals that money FHA or BofA? Maybe they split it?
Thumbs up, for the late nite expertise!
Roll Dam Tide!
I hate to thread-jack but, who steals that money FHA or BofA? Maybe they split it?
Thumbs up, for the late nite expertise!
Roll Dam Tide!
- Clay Branch, "Georgia Loans"
- Contributions:7839
If you closed on Nov 29, then the loan funded today. Your loan officer cost you $2000.00.
- rodney516
- Contributions:5
it closed on 29th
- Clay Branch, "Georgia Loans"
- Contributions:7839
If your loan funded on Nov 29 then your closing agent had 1 day to get the payoff to your old lender. If they did not get the payoff funds to your lender by Nov 30 but instead the funds were received on Dec 2, then an additional months interest was added to the payoff. A conventional loan payoff would only include 2 days of additional interest but an FHA loan payoff will include a full month's interest.
- rodney516
- Contributions:5
it was scheduled to close on the 30th, and it did
- Hamp Yonce, "Zilluminati"
- Contributions:3463
BofA should have been paid based on a "payoff demand statement" that they sent the title company. It says John Doe owes this much principal, and this much interest, and this much junk fees, up until this date.
If the payoff demand statement was wrong, I don't see how they recoup from that kind of mistake.
If your closing was delayed, and the funding date passed the date of the demand statement, that is a different matter, and could be faulted to you, and/or your title agency.
If the payoff demand statement was wrong, I don't see how they recoup from that kind of mistake.
If your closing was delayed, and the funding date passed the date of the demand statement, that is a different matter, and could be faulted to you, and/or your title agency.
what happens when fha streamline funds and records,and BofA says i owe 2000.00 more 3 days later
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