CMC Funding – Updates to First Payment Due Date
Effective Date: Immediately
Effective for all Delivery Commitments which have a scheduled purchase date after October 9, 2020, the PFI should amortize the due date and Unpaid Principal Balance such that the first payment due to CMC Funding is December 1, 2020 or later.
This ensures that all loans are in compliance with RESPA and minimizes any borrower impact as a result. This is only for those loans scheduled to be delivered in the month of October.
Please contact the MPF Service Center with any questions.
- MPF Marketing Bulletin 2020-17