Week of 29 Dec 2008
Price adjustments
No pricing updates.
Product Updates
Max 75% LTV for all conforming agency loans for investment properties.
Float Downs Reminder
Rate float downs need to be requested prior to final underwriting approval. Underwriting happens quickly, so be sure to act expeditiously.
Early Pay-Off Reminder
With the low rates we are currently enjoying, many borrowers will want to refinance. Please remember that there is an Early Pay-Off penalty if loans refinance within six months of loan funding. Refer to your Account Executive if you have any questions.
New Year's Holiday
Direct Mortgage will be closed on Thursday, January 1st in honor of the New Year. We will be open the following day, Friday, January 2nd. You may contact us Friday as normal. You'll also be able to lock loans online over the holiday until 3 am Eastern (midnight Pacific Time) Friday, barring dramatic market changes.