Want to learn more about MCR on FHA loan during loan transfer

[Vinay C.]

Hi there,

I am looking for some who knows about MCR on FHA loans.

Once I open an escrow, I had my loan transferred over from one broker to another, since the first one said they couldn't do it (they later came back after I transferred the loan saying they can do it). 

The second lender said he could do it and everything was going well. Checked off all the underwriting requirements etc. I signed the disclosure docs as well. It was on its last legs but now he said that someone tagged my file with MCR. He said it wasn't there when they got the file. 

So I wanted to understand more about MCR. Can the old lender tag the file with MCR after it has been transferred to the new lender? 

Thanks