LOCK it in!
This is the amount of the first extension cost.
What is 2.5 basis points per day?
this is the minimum amount of time you can be on the proving grounds.
If I sign my CD May 23rd, what is the earliest day I can sign my docs?
Wednesday May 28th
This is how many TRID date compliance rules there are that we went over in training.
what is 6?
The maximum number of days that can be added to a loan of free extension days from the lock bank, on non-agency loans.
3 Extension Days
what is Monday – Sunday 10am EST to 6:59:59am EST the next business day
This is the minimum score you need to get on average for your weekly quizzes
What is 80% or higher?
these 3 documents need to be signed within 3 days of each other.
what are the 1003, LE, and ITP?
When a Pre-payment Penalty is added to a loan, this happens.
What is Restarting the Cooling Off Period
The SLA for CRs IS?
4 HOURS!
This type of pricing will be applied if a previously locked loan changes programs with a different delivery type.
What is worst-case pricing?
This issomething that you need to have printed out/updated Daily, even after the proving grounds.
What is a Subtracker.
This happens when you change from Investor flex Blue to Investor flex Yellow while locked.
Worse Case Pricing
the days of the week are included in the Three-Day Appraisal Delivery rule.
What is Monday through Saturday excluding National Holidays?
The maximum amount of free extension days that can be added for a first extension.
7.
This is the maximum number of loans per account that can be locked after 6:30pm and through weekends or holidays.
What is 10?
This is the minimum task success expected as a company goal
What is 98%?
Take advantage of your interest rate ranges from the day of your lock at any-time.
what is a rate change?
If I sign my CD June 3rd 2025, what is the earliest I can sign my closing docs, and fund with the right of rescission?
June 6th – June 11th
On what loans will you need to account for the right of recission?
Primary Residence Refinances
This Program Change, that requires a withdraw and resubmission, will NOT be worse case pricing.
flipping the loan between FHA and Conventional
This is the amount of AEs you need to shadow to graduate after 8 weeks.
What is 16?
These are your parameters of your final graduation test.
25 Multiple Choice Questions, 3 research scenarios, 1 roleplay phone call.
passing is 90% or higher.
I closed my loan yesterday, May 22nd, I have to wait the right of recession, what’s the earliest day my loan can get funded?
Wednesday May 28th
This is a way for clients to SECURE pricing while they look for a home to purchase.
What is Lock & Shop