What Does It Mean to “Request a Recast”?

Short Answer

Requesting a recast means formally asking us to lower your monthly payment after you make a large principal payment.

What It Means

A recast requires:

• Confirming your loan is eligible
• Signing a recast agreement
• Making the required minimum principal payment
• Paying a processing fee

Your monthly payment does not change unless the request is reviewed and approved.

For step-by-step instructions, see How Do I Request a Mortgage Recast? or contact us for assistance.