Student Loan Cash-out Refinance
With this update, we are introducing the student loan cash-out refinance feature, a cost-effective alternative to use existing home equity to pay off student loan debt. This feature provides the opportunity for borrowers to payoff one or more student loans through the refinance transaction, potentially reducing their monthly debt payments. The loan-level price adjustment that applies to cash-out refinance transactions will be waived when all requirements have been met.
|Revenue or Retention?||Other|
|Impact to Existing Customers||All|
|Customer ID(s)||28sebo01, 39npen01, 30fntr01, 17nbkc01, 17nasb01, 06amsc01, 25fmss01, 05high01|
|Business Value||2 - Important to a few, minor impact on brand, minor competitive advantage|
|Urgency||2 - Minimally time constrained|