View 6a: Related Loan Page/Related Loan (Part One)

I am Selling a Second Lien and need to provide data about the original loan

Select if selling a second lien along with subject loan. For more information, refer to View 6b: Related Loan Page/Original Loan Closing Info (Part Two).

Related Home Equity Lien

  • Affordable Loan [ID 513.1]

  • Select if the secondary financing is an Affordable Second.

  • Maximum Home Equity LOC Balance [ID 511]

    Enter the total dollar amount of the line of credit as of the date reported.

  • Current Home Equity LOC Balance [ID 512]

    Enter the outstanding balance of the home equity line of credit (HELOC). Enter the disbursed amount (used portion) as of the Note Date of the First Lien Mortgage, not the maximum credit line amount. Value must be ≥ to 'Closing Cost Contribution Amount' or 'Down Payment Amount.' Enter 0 if no disbursements have occurred as of the Note Date.

  • Related Loan Maturity Period Count [ID 503]

    Enter the scheduled number of periods (as defined by Loan Maturity Period Type) after which a debt will mature.

  • Lien Priority Type [ID 517]

    Select the priority of the lien against the subject property. 'Second' is the option that displays.

  • Mortgage Type [ID 519]

    Specifies the type of mortgage being applied for or that has been granted. Options include:

    • Conventional

    • FHA [limited mortgage support]

    • Other

    • USDA Rural Housing [limited mortgage support]

    • VA [not supported by mortgage]

  • Related Note Amount [ID 509]

    Enter the amount to be repaid as disclosed on the related Note.