Section C. Streamline Refinances Overview
HUD 6, Section C6-C-1Section C. Streamline RefinancesOverviewIn This SectionThis Section contains the topics listed in the table NameSee Page1Requirements for Streamline Refinances6-C-22Credit Qualifying Streamline Refinances6-C-63Streamline Refinance Borrower and PropertyRelated Requirements6-C-84Types of Permissible Streamline Refinances6-C-115Establishing Net Tangible Benefit of StreamlineRefinance6-C-16HUD 6, Section C6-C-21. Requirements for Streamline RefinancesIntroductionThis topic contains information on requirements for Streamline Refinances ,including a description of a Streamline refinance permissible geographic areas use of appraisals ignoring or setting aside an appraisal reviewing CAIVRS, LDP and GSA exclusion lists credit report and credit score requirements for Streamline Refinances use of TOTAL Scorecard on Streamline Refinances payoff statement requirement on Streamline Refinances , and loan application on Streamline DateMarch 24, of aStreamlineRefinanceStreamline Refinances are designed to lower the monthly principal and interest payments on acurrent FHA-insured mortgage, and must involve no cash back to the borrower, except for minor adjustments atclosing that are not to exceed $ forStreamlineRefinancesLenders may solicit and
with an appraisal (non-credit qualifying), see HUD 4155.1 3.C.3 , and without an appraisal, see HUD 4155.1 3.C.2 . 4155.1 6.C.1.d Ignoring or Setting Aside an Appraisal on a Streamline Refinance If an appraisal has been performed on a property, and the appraised value is such that the borrower would be better advised to proceed as if no appraisal
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