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Questions and Answers
What is a condition for a Substitution loan?
What is a condition for a Substitution loan?
- Same property and same lender
- Different lender and same property
- Same owner and same lender (correct)
- Different owner and same lender
What is the rate for a Reissue Rate that is 5 years or less?
What is the rate for a Reissue Rate that is 5 years or less?
- 40% of regular
- 60% of regular
- 30% of regular (correct)
- 50% of regular
What is required for a Mutual Indemnification Treaty Mortgage?
What is required for a Mutual Indemnification Treaty Mortgage?
- Indemnification letter (correct)
- Mortgage of over $500,000
- Copy of Prior OWNER Policy
- New loan policy
What determines the effective date for an Unimproved property?
What determines the effective date for an Unimproved property?
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What is not an application for a Substitution rate?
What is not an application for a Substitution rate?
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What is a requirement for a Reissue Rate for Improved property?
What is a requirement for a Reissue Rate for Improved property?
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