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I have a borrower who wants to refinance a loan which I recently sold to 1AM. What is the 1AM recapture policy?

April 26, 2017borrower loan policy recapture Refinance sold wants

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I have a borrower who wants to refinance a loan which I recently sold to 1AM. What is the 1AM recapture policy?

1 Answer

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The price over par is due back to 1AM whenever a loan pays in full in 150 or fewer days from the date that we purchased the file. This repayment is applicable regardless of the reason for payoff.