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#2271565 - 06/13/22 03:38 PM First Loan Payment
deltacrcm Offline
100 Club
Joined: Apr 2015
Posts: 217
Is there a prohibition with the first loan payment being less than 30 days from closing? When customers request a specific date that would sometimes have the first payment as far as 45 days from closing. I believe I have read that it must be at least 30 days but I cannot find a citation.

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Mortgage Servicing Rules
#2271574 - 06/13/22 04:49 PM Re: First Loan Payment deltacrcm
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 79,294
Galveston, TX
You can schedule the first payment anytime you want to. If you are selling your loans, investors have limitations on a short first payment periods.
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#2271577 - 06/13/22 05:18 PM Re: First Loan Payment deltacrcm
deltacrcm Offline
100 Club
Joined: Apr 2015
Posts: 217
Thank you!

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