GOOD NEWS!
Effective with reservations made on Lender Online beginning Monday, March 15, 2021, reservation/lock options will look different on the lender portal. Changes include:
- 30-day reservation period (lock) for .50% commitment fee
- 45-day reservation period (lock) for .75% commitment fee
- The previous 15-day lock will be retired from any further reservations
Essentially, lenders will have 15 additional days built into this new lock period at the same commitment fee cost as before.
Extensions will still be available as needed for the same price of .25%.
The maximum lock period cannot exceed 60 days with extensions.
