Lately I have been receiving a few hits for Refi (Investment) from a company by the name of Vylla Title.
I am still new so I am assuming The Investment is maybe a refi on an investment property. Can someone confirm and maybe provide some insight on how they may differ from a standard refi packet? Also does anyone have knowledge on this company?
Thanks for the continued support from this forum.
No experience with the company, but if it’s a residential refi of an investment property, just a heads up - package will probably be just like your standard owner-occupied residential refi but there will be no rescission period - no NORTC - and scanbacks will most probably be required immediately as it’s same-day funding (no waiting the 3 days).There may also be some other forms in there, especially if it’s a multi-family home. Just review the package closely so you’re comfortable with what you’re getting signed.
Yes, I’ve done many closings for Vylla Title (through Signature Closers). Package is the same as a Refi with the exception of a couple things. No Right to Cancel, and Occupancy Affidavit will have different boxes checked. If its rented, a 1-4 Dwelling Rider will be on the mortgage.
Thanks. Now that I know I won’t have to much apprehension on taking one when it comes around again
To start investing in Refi, you must learn all the rules and subtleties.