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Mortgage News

Mortgage Rate Lock Best Practices

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Posted by on April 14th, 2009

The following list of best practices are being shared with us today by Clarion Mortgage as sent to Clarion LO’s in an internal email. These guidelines are excellent rules of thumbs for any originating loan officers or mortgage brokers operating in the existing changing environment we live in today. Guidelines For Locking When to Hold […]

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Mortgage News

Flagstar Begins Charging Pair Off Fees

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Posted by on March 18th, 2009

The times they are a changin’. Flagstar sent out a memo today documenting their expectations for pair offs. In other words, if you lock a loan and it closes elsewhere, expect to receive a bill from Flagstar. Some Flagstar clients are reporting $400 invoices per pair off. Loan fallout is yet another pressure banks are […]

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