DYK
that with a streamline, whenever a reduction of term is required it is
automatically treated as a full credit qualifying rate/term refi?
Reduction
in Term: For transactions that include a reduction in the mortgage term, that
loan must be underwritten and closed as a rate and term (no cash-out) refinance
transaction.
Happy Selling!
Justin Perry
Sr. Underwriter
Gateway Mortgage Group
1255 W. 15th Street| Ste. 540|
972-908-3390 ext. 125| 918-392-8349 eFax
2/18/2010
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