Revised Pinehurst Extension Fees
Our Pinehurst Investor has revised their adjustment for extensions and relocks based on market feedback. The extension cost will be based on several factors which are; Program, New Expiration Date and orginal lock date. If your loan is currently locked under the Non-Agency programs you will be charged the old extension fee's:
| Number of Days Extended | Price Adjustment |
| 15 | -0.188 |
| 30 | -0.375 |
| 45 | -0.500 |
| 60 | -0.625 |
If you have your loan on an Agency program locked on or after August 19th then you are also subject to the old price adjustments:
| Number of Days Extended | Price Adjustment |
| 15 | -0.188 |
| 30 | -0.375 |
| 45 | -0.500 |
| 60 | -0.625 |
If your loan was locked on an Agency program on or before August 18th then your price adjustment will be determined by the following:
- Ø If your loan expires on or before September 19th then you will be charged the old adjustment (refer to Column B).
- Ø If your lock extension will take the expiration to on or after September19th you will be charged the recently announced larger adjustments (refer to Column C).
| Column A | Column B | Column C |
| Number of Days Extended | Price Adjustment if NEW Lock Expiration Date is on or before 9/19/08 | Price Adjustment if NEW Lock Expiration Date is after 9/19/08 |
| 15 | -0.188 | -0.625 |
| 30 | -0.375 | -0.750 |
| 45 | -0.500 | -0.875 |
| 60 | -0.625 | -1.125 |
Relocking of expired loans will be based on Worse Case pricing minus the fee structure listed below;
| Number of Days Relocked | Price Adjustment |
| 10 | -0.188 |
| 25 | -0.375 |
| 40 | -0.500 |
| 55 | -0.625 |
| 70 | -0.750 |
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!!