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[]
[null,null,null,"FHA Streamline Refinance"]
[null,null,null,"(Complete highlighted boxes only - Revised 08/31/16)"]
[]
["Net Tangible Benefit (NTB) Worksheet"]
[]
["Loan #:  ",null,null,null,"Borrower Name:  "]
[]
["Date Prepared:  ",null,null,null,null,"Prepared By:  "]
[]
[]
["Benefit Test 1:  Converting from Fixed to Fixed"]
[null,null,null,null,"Interest Rate",null,null,"MIP Rate",null,null,"Total"]
[null,null,"Combined Rate on Current Loan:",null,null,null,"+",null,null,"=",{"$f":"E14+H14","v":0}]
[]
[null,null,"New Combined Rate on Proposed Loan:",null,null,null,"+",null,null,"=",{"$f":"E16+H16","v":0}]
[]
[null,null,null,null,null,null,"Difference in Interest Rates:",null,null,"=",{"$f":"K16-K14","v":0}]
[]
["New combined rate must be at least 1/2 percentage points below the prior combined rate."]
[]
[]
["Benefit Test 2:  Converting from 1-YR ARM to Fixed"]
[null,null,null,null,"Interest Rate",null,null,"MIP Rate",null,null,"Total"]
[null,null,"Combined Rate on Current Loan:",null,null,null,"+",null,null,"=",{"$f":"E25+H25","v":0}]
[]
[null,null,"New Combined Rate on Proposed Loan:",null,null,null,"+",null,null,"=",{"$f":"E27+H27","v":0}]
[]
[null,null,null,null,null,null,"Difference in Interest Rates:",null,null,"=",{"$f":"K27-K25","v":0}]
[]
["New combined rate must be at least 2 (two) percentage points below the prior combined rate."]
[]
[]
["Benefit Test 3:  Converting from Hybrid ARM (3/1 or 5/1) to Fixed"]
[null,null,null,null,"Interest Rate",null,null,"MIP Rate",null,null,"Total"]
[null,null,"Combined Rate on Current Loan:",null,null,null,"+",null,null,"=",{"$f":"E36+H36","v":0}]
[]
[null,null,"New Combined Rate on Proposed Loan:",null,null,null,"+",null,null,"=",{"$f":"E38+H38","v":0}]
[]
[null,null,null,null,null,null,"Difference in Interest Rates:",null,null,"=",{"$f":"K38-K36","v":0}]
[]
["New combined rate must be at least 2 (two) percentage points below the prior combined rate."]
[]
[]
[]
["The table below provides the net tangible benefit requirements for various types of refinances"]
[null,null,"From"]
["To",null,"Fixed Rate",null,null,"One-Year ARM",null,null,null,null,"Hybrid ARM"]
["Fixed Rate",null,"At least 0.5 percentage points below the prior combined rate.",null,null,"At least 2 percentage points below the prior combined rate.",null,null,null,null,"At least 2 percentage points below the prior combined rate."]
["Any ARM With Less Than 15 Months to Next Payment Change Date",null,"No more than 2 percentage points above the prior Combined Rate.",null,null,"At least 1 percentage point below the prior Combined Rate.",null,null,null,null,"At least 1 percentage point below the prior Combined Rate"]
["Any ARM With Greater Than or Equal to 15 Months to Next Payment Change Date ",null,"No more than 2 percentage points above the prior Combined Rate.",null,null,"At least 2 percentage points below the prior Combined Rate",null,null,null,null,"At least 1 percentage point below the prior Combined Rate."]