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April 10, 2008
Pull Through Reminder
(Originally Published 2/15/08)

2008 PULL THROUGH

Pull through and funding of locked pipelines is under much scrutiny. The cost of locked loans that do not fund is a BIG factor in the cost per loan, and ultimately of the pricing that comes down to you and your clients. Please make sure you are doing everything you can to lock loans only when you have a reasonable expectation of funding. Additionally, notification of cancellation should be provided to secondary@1amllc.com prior to the lock expiration any time it is known that a loan is not going to close.

To protect the whole of our business, brokers not meeting minimum standards (70%) may lose their ability to advance lock loans. If the problem continues, the wholesale broker relationship may be in jeopardy.

Please contact your AE with any questions.

As always, thank you for doing business with 1AMDK.

This information is for use by mortgage professionals only and should not be distributed to or used by consumers or other third parties. Information is accurate as of the date of printing and is subject to change without notice.

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