Unacceptable senior liens

Rejection reason:

Unacceptable senior liens

What does this mean?

  • Point cannot proceed with funding if certain types of senior liens will remain in place at or after closing; examples include shared appreciation clauses, reverse mortgages, MV Realty, Habitat for Humanity, and private party mortgages.
    • MV Realty - Due to ongoing legal and regulatory concerns, Point funds cannot be used to pay off MV contracts or other similar agreements. If such a lien or agreement is identified, the homeowner will be required to satisfy and release it If they choose to proceed with Point. We would require a paid-in-full payoff statement and the release of any associated lien. Please note that removing the lien does not guarantee approval, and your application will still be subject to a full underwriting review.

How can I become re-eligible?

  • Subject to review, this eligibility may be met once the balance(s) on the unacceptable senior lien(s) are satisfied. If prompted, please provide recorded lien releases. Please note that removing the lien does not guarantee approval, and your application will still be subject to a full underwriting review.