Student Loan “Cash-Out Refinance”

The new changes Fannie has put into place will waive the increased fees & higher interest rates associated with “traditional cash out” refinance transactions. Mortgage Lenders (including Griffin Funding) have changed how student debt is calculated by accepting the student loan re-payment amount listed on the clients credit report. Previously, lenders were required to factor in 1% of […]

Mortgage Closings Keep Getting Quicker

The time it takes to close all loans (both purchase and refinance) fell to 42 days in April, down from 43 days in March and a substantial drop from the beginning of 2017 when the average was 51 days in January. Although refinances are still closing faster than purchases, purchase originations continue to rule the market. This past month, refis […]