Our North Carolina Tangible Net Benefit Worksheet (Cx2031), and our Tangible Net Benefit Worksheet (Cx12531) that prints for Minnesota and New Mexico refinances (and can print for Alaska, Arkansas, New York, Ohio, Virginia, and Washington upon request), both have language in the “Type of Loan” section that instructs the lender to check one of the boxes to indicate the loan type. However, since one of the checkboxes (Balloon) is considered more of a loan feature than a loan type, we are making a minor change to remove the “Check One” language, since it is more conservative to select both the amortization type (ARM or Fixed) and the Balloon checkbox if both are applicable. No changes to the document logic are being made.
This minor text change will be in effect on May 22, 2020. If you have any questions or concerns about this change, please contact Client Support at 1.800497.3584.
DR 316639