The bank is looking at possibly offering one-time closing const/perm. It's been a long time since I've worked in a bank that did those. What are the biggest concerns? Issues you've seen in doing those, particularly under the new rules?
Last edited by CalifDreamin; 07/10/14 09:27 PM.
The only thing really jumping out in my mind in terms of the new rules is the fact that the rate you are comparing to the APOR is that combined APR of both phases. But, other than that, I can't think of anything in particular - it is subject to all of the rules just like a normal perm loan.
Finally - has anyone done these on Byte? Does that system do these well?
The opinions expressed are mine and do not necessarily reflect those of my employer