Portfolio lenders and escrow

[Ryan Keenan]

Hey BP, question about portfolio lenders and using smaller banks to escape to dreadful 6 month seasoning. One small bank near me said they could do a cash out refi with no seasoning at 70%ltv. He called these types of loans home equity loans however taxes and insurance would not be held in escrow and I would have to pay that seperate. My question is that typical when using portfolio lenders and is it a drawback?

Thanks!

Ryan