Locking Periods and FNMA DO Version 5.7

Locking Periods

 

            Rate will now be offering locking periods for 10, 25, 40 and 55 day periods.  These new lock periods will be available for both refinance and purchase transactions.   By offering the new lock periods we will be able to offer an even more aggressive price to you.  These new lock periods will be available beginning tomorrow July 1^st, 2008.

 

FNMA DO Version 5.7

 

            All loans that have been submitted to Rate using DO Version 5.7 must be closed and funded to the borrower no later then July 15^th, 2008.  All loans that fund after July 15^th, 2008 must be resubmitted to underwriting using the new DO version 7.0

 

 

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!!