How is the reduced term incentive for Relief Refinance Mortgages with LTV ratios greater than 105 percent applied?
The reduced term incentive is applied by reducing the Relief Refinance Mortgage delivery fee cap to the amount specified in Guide Exhibit 19, which is currently 150 basis points. Your monthly invoice will reflect the reduced term incentive as a deduction under a separate line item called Reduced Term Incentive. Mortgages sold for cash will see the net delivery fees and credits, including the reduced term incentive, reflected in the selling system’s Net Price functionality.
Related Questions
- How do I deliver Relief Refinance Mortgages with LTV ratios greater than 105 percent under the Guarantor execution?
- How is the reduced term incentive for Relief Refinance Mortgages with LTV ratios greater than 105 percent applied?
- When is the cash adjustor for Relief Refinance Mortgages with LTV ratios greater than 105 percent applied?
