2020 NACA changes?

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  • #79128
    Nelsont
    Member

    The math is the same. They are just phrasing it to make it easier for people to understand. Quarters are easier than sixths.

    1% for a 0.167 reduction is the same arithmetic as 1.5% for 0.25 reduction.

    1.5 is 50% more than 1 and 0.25 is 50% more than 0.167.

    #79138
    BostontoAtl
    Participant

    The issue is a manager at NACA is saying 1% of a buydown has been reduced to 0125. I do not see that information listed anywhere on the website

    #79140
    Nelsont
    Member

    Naca does not set the terms. Bank of america sets the terms. If anything changed it was likely when Bank of America renewed their contract and if there was a change I was not aware of it.

    For what it’s worth naca worked with both citi and bank of america until 2018 and at that time they each had different buy down rules.

    • This reply was modified 2 months, 1 week ago by Nelsont.
    #79142
    BostontoAtl
    Participant

    That’s the thing, no one was aware of this….I’m scheduled to close on 4/28 and my file is currently undergoing a COC so we will see what happens.

    #79165
    xeyayab
    Participant

    thankyou

    #79166
    ozonegeneratorp
    Participant

    hopefully we can get some confirmation on this

Viewing 6 posts - 31 through 36 (of 36 total)
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