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In Response To:
Thread Starter: Anonymous
Title: Re: Refi vs Cash out refi vs Home Improvement

Thank you for your response. No, we don't have separate products for a refi vs cash out refi. We would have just called it a refinance. I was getting stuck on " closed end mortgage loan in which a new dwelling-secured debt obligation satisfied and replaces an existing dwelling secured debt obligation by the same borrower. " We did not view the original mortgage as being dwelling secured. The new loan application states the purpose as cash out refi to complete home improvements.