Example Closing Scenarios
Example - Loan closed in July, sold to MPF in September with one payment applied by PFI:
| Closing Date |
September MPF Funding Date |
First Borrower Payment Due to PFI |
First Borrower Payment Due to Newrez (servicing transfer date) |
| July |
On or Before September 12 |
September 1 |
|
| On or After September 13 |
|
October 1
|
Example - Loan closed in July, sold to MPF in October with two payments applied by PFI:
| Closing Date |
October MPF Funding Date |
First Borrower Payment Due to PFI |
First Borrower Payment Due to Newrez (servicing transfer date) |
| July |
On or Before October 12 |
September 1 & October 1 |
|
| On or After October 13 |
|
November 1 |