FNMA Subordinate Financing adjustments

Rate is increasing the adjustment for loans with subordinate financing that has a CLTV of 95.01% or greater.We will now be charging 3.00 points to your price if you loan has this CLTV.This new price adjustment will be charged on all new locks and re-locks submitted to Rate on or after Wednesday April 23, 2008.

 

 

Sherlock will be updated shortly with these new changes.

 

Please feel free to contact your VP of Wholesale Lending or the Commitment Desk for further clarification if needed.

 

Thank you for your continued business!!