Sentences with phrase «second lien charge»
Reviewed Financial Statements to asses the Borrower's ability to pay, and Second Lien Charge Offs.
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b) The sum of the existing first lien, any purchase money second mortgage and / or any junior liens over 12 months old, closing costs, prepaid expenses, accrued late charges, escrow shortages, borrower paid repairs required by the appraisal, discount points, prepaid penalties charged on a conventional loan and FHA Title 1 loans as determined by the appropriate HOC subtract any refund of refund of upfront MIP.
FHA will permit the inclusion of the existing first lien, any purchase money second mortgage, closing costs, prepaid expenses, discount points, prepayment penalties, and late charges.