Our company requires first/last name and a mailing address for the owner.

It's easy to obtain, costs very little, and doesn't require extra, on-going effort to maintain.

Hi Yael, I can connect you with an agent that meets all your requirements.

The income requirement was $6000.

Lenders will still require a personal guarantee since it is a full recourse loan.

So it was going to require more tenacity by you to get the deal sold either way.  

This is much lower than the costs associated with refinancing.Benefits of Mortgage RecastingLower Monthly Payments: The most immediate benefit is a reduced monthly payment, which can free up cash for other financial goals.Save on Interest: By reducing your principal balance, you’ll pay less interest over the life of the loan, potentially saving thousands of dollars.No Credit Check or Appraisal: Unlike refinancing, recasting doesn’t require a credit check, income verification, or home appraisal, making it a quicker and simpler process.Keep Your Current Interest Rate: If you have a favorable interest rate on your current loan, recasting allows you to maintain it while still lowering your payments.Drawbacks of Mortgage RecastingRequires a Lump Sum: Not everyone has the cash on hand to make a significant lump sum payment, which can make recasting inaccessible for some homeowners.Doesn’t Shorten Loan Term: While your monthly payments are lower, recasting doesn’t reduce the length of your loan.

Which governing body determines these requirements?

Right now there's huge concentration, but as this continues to build out and we see north of the high 30s GW by 10 years from now it'll be almost a requirement to keep some type of locality based risk assessment and to diversify. 

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?