230 R.I. Admin. Code 40-10-3.5(B)(2)(a)(1) requires the borrower’s new monthly payment to be lower than the total of all monthly obligations being financed, taking into account the applicable costs and fees.
We have updated the Rhode Island Tangible Net Benefit (Cx11242) to better reflect this requirement. The “DECREASE FROM” amount in the “YOUR MONTHLY PAYMENT WILL DECREASE FROM” section will now use Monthly Payoff Amount (FI 95470), rather than the previous loan principal and interest payment.
The Monthly Payoff Amount field represents the total monthly payments for liabilities being paid off through the new loan. This allows the “DECREASE FROM” amount to include other monthly obligations being financed in addition to the existing mortgage payment.
We have also added MISMO 3.x imports for Monthly Payoff Amount (FI 95470) to support this updated document behavior.
These changes are available for testing on Stage & Stage 2 servers and will take effect on September 9, 2026. If you have any questions or concerns, please contact Client Support at 1.800.497.3584.
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