Midday Price Change
- Price change is effective immediately upon pricing engine update.
- On-line lock requests will be suspended until rate & premiums are updated.
- It is incumbent upon the Loan Officers/Account Executives to stay up to date with current market conditions and posted rates and prices, especially prior to any consultation with a potential borrower.
- All loan program changes must be re-locked with Secondary Marketing.
- DU & LP program changes w/ the same type & term will retain pricing from the original lock date.
- Program changes from AGENCY FIXED/ARM to FHA (or vice-versa) will be subject to current market pricing. Resubmission may be required.
- Program changes to, from, or between Jumbo or Non-QM programs may be subject to worst case or current market pricing. Resubmission may be required.
- Changes from Fixed to ARM or vice-versa will be subject to worst-case pricing (regardless of lock expiration)