Sentences with phrase «lenders impose a penalty»

Other lenders impose penalties for early payoffs.

For example, will lenders impose a penalty if you want to repay the principal sooner than the agreed date?

In Canada, when a borrower prepays the full balance of his mortgage, the lender imposes a penalty that is equal to the highest of three months of interest; or an amount based on the differential between rate A, the rate in effect at the signing of the mortgage, and rate B, the rate in effect at the prepayment date.

Some lenders impose a penalty if you repay the loan too soon.

Lenders impose the penalty to recover any losses related to your early payment.

Not exact matches

This isn't a comprehensive list of all online lenders, but here are the lenders on Fundera's business loan platform — and a note on whether they impose prepayment penalties on their borrowers.

Some mortgage lenders impose a prepayment penalty.

Borrower is responsible for paying other financial institution fees and charges related to the existing loan (for example, payoff demand statement fee and / or a re-conveyance fee) as well as any prepayment penalty imposed by that lender.

Specifically, Section 8 of that act prohibits a lender from imposing a «fine, a penalty or a rate of interest» that has the effect of creating a higher charge on unpaid arrears than would be imposed on principal money not in arrears.

Prepayment penalty: A fine imposed on the borrower by the lender when the loan is paid off before it comes due.

Lenders may impose a lockout period, a yield maintenance provision or some other prepayment penalty, but borrowers should negotiate these provisions carefully.

The video also looks at the penalties imposed on two real estate brokerages for marketing service agreements they entered into with a lender.

Prepayment Penalty — Fee imposed by a lender for paying off a loan before a specified time.

The CFPB did not impose a civil money penalty based on the mortgage lender's financial condition and to maximize relief to affected consumers.

● Allowing some listing agents to impose per - diem penalties on buyers who used competing lenders and failed to close their sales on time.

In other words, under a narrow QM definition, lenders would further restrict home mortgage credit in what is already a tight lending environment because they would be fearful of the severe penalties that would be imposed if they failed to satisfy the ability - to - repay requirement under the more uncertain standards that would apply in the non-QM market.