Frequently Asked Questions
Click on one of the commonly asked questions below to see a detailed response for each.
- Who is Mandalay?
- What is needed when submitting a loan?
- Does Mandalay have any Mortgage Insurance (MI)?
- What is the maximum rebate with and without a prepayment penalty?
- What states do you lend in?
- Are your products credit score driven?
- What are your seasoning requirements for a refinance (rate and term / cash-out)?
- What is the maximum cash-out I can get?
- Do you do gift equity?
- Would you consider a 1031 exchange?
- Do you have reserve requirements?
- Do you have source and seasoning requirements?
- Do I have to pay off collection accounts / charged off accounts / judgments?
- Do you service or sell your loans?
- If I refinance with you, will you waive the prepayment penalty on the original loan?
- What are the maximum fees I can charge?
- Do you consider loans if borrowers are in Consumer Credit Counseling?
- How much is it to buy out a prepayment penalty?
- What is the maximum NRCC allowable?
- What are Mandalay\'s loan fees (1st and 2nd)?
- What are your standards of service?
- Does Mandalay do stand alone seconds?
- On first and second loan combos, does Mandalay pay rebate on both loans?
- What are 2/28, 3/27 and 5/25?
- How do I order docs?
- How do I read my approval?
- Does Mandalay do 100% Stated loans to W2 wage earners?
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