"Ignoring the dollar amount of the first and final payments, if ALL the disclosed payments are not equal (exactly equal) in dollar amount, then the "irregular" tolerance applies."
Following up on this post with respect to PMI. Would the same irregular transaction definition for 1/4% tolerance hold true for fixed rate FHA loans with monthly MIP? Although the amortization schedule clearly shows regular payments at 12 month intervals with declining MIP there are 30 years of differing payments for instance so would the above apply?
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