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Generally, this includes repairs, improvements and additions to the permanent structure of the primary residence. Right of Rescission: The right to cancel a contract and restore the parties to the same position they held before the contract was entered into.
For a refinance transaction, a borrower has three working days from the signing of the loan documents to cancel the loan without penalties. The right to rescind does not apply to purchase transactions.
Servicing: The collection of payments and management of operational procedures related to a mortgage loan. All MOP loans are serviced by the Office of Loan Programs. Short-Term Investment Pool (STIP): STIP was established in fiscal 1976 and is an interest-only cash investment pool in which all University fund groups participate, including current funds earmarked to meet payrolls, operating expenses, and construction at all campuses and teaching hospitals of the University.
Standard Rate : The most recently available average rate of return earned by the Short-Term Investment Pool (STIP) for the four quarters preceding the funding of the easy cash payday loan loan, plus an administrative fee component.