Purchases: Cutoff time for next day signing is:
3:00pm local time
Refinances: Cuttoff time for next day signing is:
12:00pm local time
CURRENT UNDERWRITING DATES:
|Jumbo Submitted On||3/25/2015|
|Purchases Submitted On||3/20/2015|
|Refinances Submitted On||3/16/2015|
UPDATED PCM LOCK EXTENSION POLICIES:
(13 March 2015)
We've updated the extension parameters on our Wholesale Lock Policy and Correspondent Lock Policy.
Initial lock extensions will be 0.125% for 7 days, 0.25% for 14 days, 0.375% for 21 days and a maximum 0.50% for 28 days. Any subsequent extension will be 0.25% for 7 days, 0.375% for 14 days and 0.50% for 21 days. The maximum amount a loan can be extended is 28 days (after 28 days the relock policy applies).
Please note: All loans must be extended prior to expiration.
PCM OVERLAY MATRIX:
(4 March 2015)
PCM has dropped the program guidelines for several products and replaced them with one PCM Overlay Matrix.
The ONLY program guidelines still in effect are:
- Non-Agency Jumbo
- FHA 203K Streamline
- Non-Warrantable Condo
Access the PCM Overlay Matrix and current guides under the "Guidelines" tab above.