• Posted By Outraged Citizen
    Monday, October 23 2017 at 8:14 PM
    Completely agree with the Concerned Citizen. VA IRRRLs are subject to Safe Harbor net tangible benefit requirements that prevent lenders from refinancing veterans into a worse financial situation. Cash outs are not, and companies such as New Day USA have made a practice of taking advantage of vets with heavy credit card debt, putting them in loans 2% above market and still charging as much as 3 points! This is the problem, and the reason for all the IRRRL refinances in the first place.
  • Posted By Concerned Citizen
    Monday, October 23 2017 at 11:43 AM
    It is a sad day in the mortgage industry and in the world when a man with Joe Murin's back round continues to work for a company like New Day USA, who by the way is the biggest predatory lender in the world. Not allowing Veterans to refinance in less than 12 months would only help companies like New Day USA and Freedom MTG who constantly mail veterans to get them to refinance in a VA cash out loan and charge them around 1.5%to 2% higher rates than the going rate at that time and also by far the