Knock Bridge Loan
This is the maximum amount available through the Knock Bridge Loan.
What is $750,000?
For FHA 203K loans, this is the minimum FICO score required, except in New York where it’s slightly higher.
What is 580 (600 in NY)?
This person sends the Comergence invite after a broker completes the MLB Fast Pass.
What is Jenni?
This tab on the left-hand side of the MLB portal is where users go to begin pricing and locking a loan.
What is the “Product & Pricing” tab?
This renovation loan for veterans requires no down payment and allows financing for home improvements.
What is the VA Renovation Loan?
For the first six months, this is the interest policy on the Knock Bridge Loan.
What is no interest?
The Limited 203K allows a maximum of this many individual contractors.
What is 3 contractors?
Before receiving a Comergence code, a broker must upload these types of documents.
What are required documents and financials?
After completing the Compliance Checklist, this button must be clicked to finalize the lock request.
What is the “Request Lock” button?
This FHA program provides 100% financing for people impacted by a presidentially declared major disaster area.
What is the FHA 203H Loan?
Up to this amount can be used for moving expenses under the Knock Bridge Loan.
What is $5,000?
This type of consultant is required for all Standard 203K projects.
What is a HUD Consultant?
The cost MLB incurs each time a Comergence code expires unused.
What is $125?
After selecting a rate and clicking the padlock icon, this checklist appears and must be completed before submitting a lock request.
What is the Compliance Checklist?
This program allows homeowners in Texas to access home equity for debt consolidation, renovations, or business capital.
What is the Texas 50(a)(6) Cash-Out Refinance Loan?
Up to this amount can be used for home preparation under the Knock Bridge Loan.
What is $35,000?
Under the Limited 203K, repair work must begin within this number of days after closing.
What is 30 days?
This step must happen before a broker reaches out to their AE for a Comergence code.
What is uploading all required documents in Comergence?
As of October 29, 2025, this action must be taken by brokers or third-party processors to either lock or float a rate before submitting a loan to underwriting. If floating, they must click the "Update LOS" button.
What is selecting a rate option before submitting to underwriting?
This program offers complimentary mortgage protection up to $650,000 for EMTs, firefighters, and police officers.
What is the First Responder Program?
Clients must list their old home within this number of days after moving into the new home.
What is 45 days?
Luxury items like gazebos, tennis courts, and outdoor kitchens are ineligible under this 203K program.
What is the Standard 203K?
The reason MLB changed its process for issuing Comergence codes.
What is to avoid paying for unused codes when brokers don’t complete onboarding?
Unlike wholesale files, this type of file does not require selecting compensation from a dropdown because the lender controls their own comp.
What is a correspondent file?
If someone asks for details about this program, you can respond—but you should always refer and pass the discussion to our expert.
What is “Refer to Paul for full details”?