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What transactions are NOT considered an originating mortgage?

April 26, 2017mortgage originating transactions

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What transactions are NOT considered an originating mortgage?

1 Answer

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• Line of credit, second mortgage, refinance, construction loans, credit card with equity line of credit, any type of personal loan, 30 day notes, 60-day notes or similar instruments, or any financial arrangement that does not meet the Association’s definition of originating mortgage.