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SOUTH CAROLINA NET TANGIBLE BENEFIT DISCLOSURE AND ACKNOWLEDGMENT The State of South Carolina enacted the South Carolina High Cost and Consumer Loan Act that, among other things, prohibits a lender.

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This disclosure is designed to assist borrowers and mortgage loan originators in determining if a proposed loan has a reasonable, tangible net benefit to the borrower.

The purpose of this disclosure is to assist borrowers and mortgage loan originators in determining the tangible net benefit that the proposed loan will provide to the borrower. ... The reasonable, tangible net benefit is inherently dependent upon the totality of facts and circumstances relating to a specific transaction.

Tangible Net Benefit Worksheet. WHOLESALE | Tangible Net Benefit Worksheet (REV042413JR) 1. INSTRUCTIONS. The following worksheet must be used in the determination of a borrower's tangible net benefit as the benefit relates directly to the new loan extended.

Fannie Mae requires borrowers to get a material benefit from refinancing also known as a net tangible benefit otherwise a new loan is a waste of money for all involved. ... Shorter loan term. Move to a more stable mortgage product (like an adjustable-rate mortgage to a fixed-rate mortgage)

Net tangible benefit is defined as: A 5% reduction to the principal and interest (P&I) of the mortgage payment plus the annual mortgage insurance premium (MIP) or. Refinancing from an Adjustable Rate Mortgage (ARM) to a fixed rate mortgage."

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232