- 0.125- 5 business days
- 0.250- 10 business days
- Maximum extension allowed is one week. Extension fee is 0.500 cost. Additional extension will trigger a relock at worst case pricing.
- Please see page 5 for more detail
- Once the lock has been extended for the maximum allowed extension days, the lock becomes subject to relock at worst case pricing
- Please see page 5 for details on maximum extension periods.
- Broker’s commission may not increase from original locked in price.
- Loan must be approved and/or READY for DOCS. Any others would be on a case by case with a certainty of closing based on credit.
- Rate renegotiations are not automatically applied & must be requested via e-mail to email@example.com.
- Similar to lock requests, only brokers & their authorized personnel are permitted to send rate-renegotiation requests.
- Renegotiations are subject to a 0.500 relock fee. An additional redraw fee may apply if docs have already gone out.
- Renegotiations are not accepted on files that already have docs back.
- Renegotiations are limited only to AGENCY FIXED (FNMA/FHLMC) and FHA products.
- A renegotiation does not change the existing lock expiration date. Additional extension(s) may be subject to standard extension fees.