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#2168467 - 03/15/18 07:38 PM Rate & Term Mortgage Refi
HeyHey Offline
Member
Joined: Dec 2012
Posts: 59
Is there a Texas state a tolerance amount that Texas FIs have to be aware of on Rate & Term Refis? If I am understanding correctly there can be no cash out at closing for these types of refi's, but I need to know about situations where we would be giving a refund on a miscalculation or change in an estimated amount? Is there a specific amount (% or flat amount) that can be tolerated for these situations?

Hope this makes sense.

Thanks in advance.

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#2168481 - 03/15/18 08:07 PM Re: Rate & Term Mortgage Refi HeyHey
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 79,893
Galveston, TX
I know of no such tolerance. I would reflect it as a principal reduction on the CD.
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#2168617 - 03/16/18 03:35 PM Re: Rate & Term Mortgage Refi rlcarey
HeyHey Offline
Member
Joined: Dec 2012
Posts: 59
Thanks for your help! This makes sense.

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