Week of 9 Feb 09
Price adjustments
1. For all Conforming loans with subordinate financing and CLTV >90 the adjustment is now 1.00.
2. New extension fees effective today:
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Agency loan programs (Conforming & Government)
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Extension up to: |
Cost of Extension
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7 Days
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.250 pt. |
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15 Days |
.375 pt. |
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30 Days |
.750 pt. |
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45 Days |
1.250 pt. |
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60 Days |
2.000 pt. |
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Non-Agency loan programs (Non-Conform/Jumbo/ALT-A,etc) |
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7 Days
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.250 pt. |
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15 Days |
.375 pt. |
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30 Days |
.750 pt. |
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45 Days |
1.250 pt. |
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60 Days |
2.000 pt. |
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Program Reminder
USDA Rural Housing -- ensure that property and income are eligible according to USDA guidelines.
Due Dates
Dates required to qualify for an underwriting fee reduction to $395 for Streamline Refinances:
- Submit to Underwriting on or before February 10, 2009
- Docs signed by the borrower on or before February 12, 2009
- Loan funding disbursed by DMC on or before February 18, 2009
Dates required for refinance fundings to be eligible for February funding disbursements:
- Submit to Underwriting on or before February 16, 2009
- Docs signed by the borrower on or before February 19, 2009
- Loan funding disbursed by DMC on or before February 26, 2009