Loan Lock Prime

Basic information

QM program

• Conventional
• Home Ready
• Home Possible
• FHA
• FHA Streamline
• FHA 203(b)
• VA
• VA IRRRL
• VA High Balance
• VA Jumbo

Loss payee

OnY Glo Inc., DBA LoanLock Prime ISAOA/ATIMA 6 Hutton Centre Drive, Suite 1030 Santa Ana CA 92707

CPL or subordinate clause

OnY Glo Inc., DBA LoanLock Prime ISAOA/ATIMA 6 Hutton Centre Drive, Suite 1030 Santa Ana CA 92707

Lock policies & fees

Lock policies

Lock extension

Depending on loan program. DPA 2:30pm PST. Jumbo Express 3:30pm. All others 4:30pm • 5 Days at a cost of 12.5 bps • 7 Days at a cost of 17.5 bps • 10 Days at a cost of 25 bps • 15 Days at a cost of 37.5 bps • 30 Days at a cost of 75 bps • Expired loans cannot be extended.

Relock

Relocks are allowed on expired locks only. The loan must be in an APPROVED status or greater to be eligible for a relock. The new pricing is based on the worst case between the original final pricing plus a relock fee of 25 bps. Original final pricing includes all prior extension and/or relock fees.

Lock & Shop

No

Lender's niche & overlays

Lender's niche

One stop shop (except for hard money, construction, bridge, ITIN, or no income check for O/O loans)

Allow lender credit to cover BPC.

Lender's overlays

N/A

Lender turn time

Initial underwrite (days)

2

CTC conditions review (days)

2

Initial CD (days)

1

Reviews