Scheduled To Close Date:
Purchase transactions approved today and sent to closing can be scheduled to close no sooner than:
Monday, 5/21/2012
Current Underwriting Dates:
| Purchases Received On | 5/10/2012 |
Scheduled To Close Date:
Refinance transactions approved today and sent to closing can be scheduled to close no sooner than:
Monday, 5/21/2012
Current Underwriting Dates:
| Refinances Received On | 5/1/2012 |
Primary Capital's purchase special
27 April 2012
Primary Capital’s pricing special of .25 on purchases will end at end of business day 4/30/2012
Primary Capital is offering a purchase special of 0.25%*
18 April 2012
Secondary Marketing will add the 0.25% on the locks and send an updated lock confirmation.
The end date is TBD and 24 hours' notice will be provided on www.pcmexpress.com prior to the special ending.
*The 0.25% pricing special is for new locks only and cannot be used with the Float Down.
3rd Party Processing Fees
12 April 2012
Effective immediately, 3rd party processing fees cannot be charged on lender paid compensation transactions. Brokers are responsible for assuring the outside processing company is paid for their services.
Please contact your PCM Account Executive with questions.
14 March 2012
FHA REFINANCE FEES...REDUCED
On March 6, 2012 the Obama administration announced an initiative to allow more homeowners to refinance by dropping fees on FHA loans. The program could help 2-3 million borrowers refinance their FHA loan into a lower rate.
HIGHLIGHTS:
- Borrower NOT required to verify income, employment or credit
- New appraisal NOT required
- Upfront insurance premiums dropped from 1% to .01%
- Annual premiums dropped from 1.15% of the loan balance to 0.55%
ELIGIBILITY:
- Current FHA loan must have closed on May 31, 2009 or prior
- Available for borrowers refinancing from one FHA mortgage into another FHA mortgage
- Must be current on all mortgage payments for the past 12 months
This change is eligible for case numbers assigned on or after June 11, 2012.