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For a refinance transaction, a borrower has three working days from the signing of the loan documents to cancel the loan without penalties. The right to rescind does not apply to purchase transactions. Servicing: The collection of payments and management of operational procedures related to a mortgage loan. All MOP loans are serviced by the Office of Loan Programs. Short-Term Investment Pool (STIP): STIP was established in fiscal 1976 and is an interest-only cash investment pool in which all University fund groups participate, including current funds earmarked to meet payrolls, operating expenses, and construction at personal loan documents needed campuses and teaching hospitals of the University.

Standard Rate : The most recently available average rate of return earned by the Short-Term Investment Pool (STIP) for the four quarters preceding the funding of the mortgage loan, plus an administrative fee component. Subordination Agreement: An agreement by the holder of an encumbrance against real property to permit that claim to take an inferior position to other encumbrances against the property.

The University may, as its option, refuse to sign a Subordination Agreement.

Personal loan documents needed

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Personal loan documents needed

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Personal loan documents needed