Transcription of Section C. Streamline Refinances Overview
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Section C. Streamline Refinances Overview
HUD 6, Section C6-C-1 Section C. Streamline RefinancesOverviewIn This SectionThis Section contains the topics listed in the table NameSee Page1 Requirements for Streamline Refinances6-C-22 Credit Qualifying Streamline Refinances6-C-63 Streamline Refinance Borrower and PropertyRelated Requirements6-C-84 Types of Permissible Streamline Refinances6-C-115 Establishing Net Tangible Benefit of StreamlineRefinance6-C-16 HUD 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 process Streamline refinance applications from anyarea of the country, provided the lender is approved for Direct Endorsement(DE)
insurance must be signed and dated by the borrower(s) before the loan is underwritten. Lenders are permitted to process and underwrite the loan after the borrower(s) and interviewer complete the initial URLA and initial form HUD 92900-A, HUD/VA Addendum to Uniform Residential Loan Application.
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