What happens on the day of funding? » Mortgage Masters Group

In addition, you have a 60-day grace period after a transfer to a new servicer. That means you can’t be charged a late fee if you send your on-time mortgage payment to the old servicer by mistake – and your new servicer can’t report that payment as late to a credit bureau. The FTC advises all mortgage holders to read their monthly statements.

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I just had a conversation with the chairman and CEO of a bank about warehouse lending. Like some other bankers I’ve talked to in the last few months, he looks at warehousing as nothing more than mortgage financing. "Warehouse lending is mortgage lending and too much risk in taking mortgages as.

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