Product Hatching Ideas

LT lead showing as rate/term refi, but should be cash out

Lead came in with Take Out Equity/Receive Cash for this field: LTXML:TransactionType:Mortgage:MortgageType:Refinance:PurposeOfRefinance. What triggers the purpose for refis? This causes a big pricing difference.

106893521 is the tracking ID.

Lead is getting switched to rate/term because of the FHAEligible field being set to 'Y'. In the code, we are making the assumption that the current mortgage is less than 12 months seasoned which means it cant be cash out according to the HUD guide.

A meeting should be held with Lori, Dennis, Jason, Josh, Jared, and any others with knowledge about this area to determine a proper solution.

How many refi cash out with FHA eligible as yes - can we run this for Lending Tree? (KO)
It is about 2.5% of our lending tree long form requests. Very minimal.

  • Lori Rezac
  • May 23 2017
  • Moved to Prioritzation
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