No. of Recommendations: 2
CCinOC: "Again, there are NO LENDERS who are willing to participate in "phasing out," even if phasing out is allowed."

That may be true, I am not in the market everyday like you, so I cannot speak to any particular lender, let alone to all lenders.

OTOH, when lenders do not chose to do something that is permissible by law, then it is factually incorrect to assert that the lenders are not doing it because of the law.

The statement that "Prepayment penalties are no longer allowed under the Dodd-Frank Act" is also factually incorrect, because the law allows some prepayment penalties, with percentage caps that decline annually for the first three years after the loan closes. See the portion of the statute I previously cited.

Perhaps no lenders charging prepaymenbt penalties, which is a different statement than [all] prepayment penalites are no longer allowed.

Regards, JAFO
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