Tag: extension policy

Compliance – Lock Policy: As a correspondent lender, do we need to have a consistent pricing policy for lock extensions, or can this be flexible based on the investors we use?

Answer: This is an issue that most lenders must deal with as they progress from broker to correspondent.  As a correspondent, you are technically the lender, whereas as a broker, your investor was technically the lender.  The lender must demonstrate fair pricing policy to reduce the risk of disparate treatment.  This is why some adjustments […]

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