According to the Interagency Guidance on Nontraditional Mortgage Products, simultaneous second lien loans with minimal owner equity should generally not have a payment structure that allows forrefinancing.bi-weekly payments.negative amortization.accelerated amortization.
Question
According to the Interagency Guidance on Nontraditional Mortgage Products, simultaneous second lien loans with minimal owner equity should generally not have a payment structure that allows forrefinancing.bi-weekly payments.negative amortization.accelerated amortization.
Solution
According to the Interagency Guidance on Nontraditional Mortgage Products, simultaneous second lien loans with minimal owner equity should generally not have a payment structure that allows for refinancing, bi-weekly payments, negative amortization, or accelerated amortization.
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