prepayment

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  • noun

Words related to prepayment

payment in advance

References in periodicals archive ?
The final rule will allow prepayment penalties only in the first two years of a HOEPA loan transaction.
10 eliminates the tedious work of maintaining each state's individual prepayment penalties and increases the salability of loans on the secondary market, freeing up warehouse lines of credit," Larsen said.
Prepayment penalties were a contract feature of a significant percentage of the loan defaults in the subprime mortgage market.
In calling for an end to the prepayment penalties for hurricane victims, ACORN pointed out that other lenders and service providers have routinely waved prepayment penalties for homeowners who are paying off the mortgages of their damaged homes through insurance settlements or other means.
To learn more about prepayment penalties, check out these Websites:
Of all of the provisions in section 2 of the bill, the substantive limitations on balloon payments, negative amortization, and prepayment penalties seem particularly focused on the problems associated with high-cost mortgages.
The loan, which has a one-year term with no prepayment penalties, includes a repair and interest reserve of $7.
Yet we received only thirteen complaints by consumers about various problems in refinancing loans (five related to problems in getting a pay-off amount and only three related to the adequacy of cost information), three complaints about prepayment penalties, and no specific complaints about the Rule of 78s rebate method.
When a borrower accomplishes a less expensive source of financing, BRT has no prepayment penalties, lockout or exit fees.
Additionally, as a true Bridge Lender, our loans typically solve problems and/or facilitate opportunities rather quickly, enabling Borrowers to exit our loans in as little as 3 to 6 months penalty free versus the prohibitive prepayment penalties of securitized lenders.
Investment division same-store funds from operations decreased 12% for the quarter, and fell 5% for the six-month period, due primarily to higher write-offs of deferred borrowing costs and prepayment penalties related to refinancing.
It can be ideal if prepayment on an existing first mortgage is either legally prohibited or has high prepayment penalties, yet provides an attractive loan-to-value ratio.
Mavent's review functions include aspects of the Truth In Lending Act; HOEPA, state and local high cost reviews; loan level lender and broker license reviews; state consumer credit laws relating to such terms as usury, fee restrictions and prohibitions, prepayment penalties, late fees, and loan term and payment limitations; certain requirements of the Home Mortgage Disclosure Act; the Office of Foreign Asset Control; and, investor program requirements, such as an accurate Fannie Mae points and fees threshold test.
No financing points or application fees are necessary and there are no prepayment penalties.