April 27th, 2011 9:52 AM by Eric Fang
For some states, impound account is required.Everyone thinks it's normal to have it.
But in California, it's optional to have.For the current market, I would recommendthose to have 5/1ARM program. Three simplereasons:
1)Non-impound rate will be 0.25% higher2)We can cancel impound after closing3)This will help to get no closing costloans under current LO compensation regulation.
Email me if you have any questions