The GA Disclosure of Net Tangible Benefit (Cx4235) is provided pursuant to the provisions of Ga. Code Ann. § 7-6A-4, which prohibits a creditor from “flipping” a home loan. “Flipping a home loan is the consummating of a high-cost home loan to a borrower that refinances an existing home loan that was consummated within the prior five years when the new loan does not provide reasonable, tangible net benefit to the borrower . . .” (Ibid.)
Cx4235 currently prints for Georgia higher priced mortgage loans. Since the anti-flipping provision only applies to high-cost home loans, Cx4235’s configuration will be changed to print for Georgia high-cost home loans only.
This change will be in effect on February 14, 2017. If you have any questions or concerns about this change, please contact Client Support at 1.800.497.3584.