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#2162200 - 01/28/18 12:35 AM increasing loan amount/refinancing loan
theloanbug Offline
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Joined: Sep 2005
Posts: 749
If customer pays premium for flood insurance being increased due to loan being refinanced for more money. If customer paid premium on January 22, 2018 can we close loan on January 31, 2018?
Last edited by theloanbug; 01/28/18 12:37 AM.
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Flood Compliance
#2162204 - 01/28/18 12:22 PM Re: increasing loan amount/refinancing loan theloanbug
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 84,363
Galveston, TX
I am unsure of your question? You should probably have a declaration page already with that much lead time.
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#2162207 - 01/28/18 01:42 PM Re: increasing loan amount/refinancing loan rlcarey
theloanbug Offline
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Joined: Sep 2005
Posts: 749
Yes, I have a copy of the declaration page but it has insurance a mount different. As long as I have a copy of the check and paperwork from Insurance agent will it be ok? I am new to refinancing loans with flood. Customer paid premium to local insurance agent.
Last edited by theloanbug; 01/28/18 06:21 PM.
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#2162211 - 01/29/18 11:47 AM Re: increasing loan amount/refinancing loan theloanbug
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 84,363
Galveston, TX
A copy of a properly completed General Change Endorsement form and proof of payment should be all you need.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2162213 - 01/29/18 12:14 PM Re: increasing loan amount/refinancing loan rlcarey
theloanbug Offline
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Joined: Sep 2005
Posts: 749
Thank you for all of your help.

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