tree lending by rickman2


									                           Baytree Lending Price Extension Policy
         Price extensions must be requested prior to the expiration date of the original lock. Requests made after
                           expiration of the original lock will be subject to worse case pricing.

         Product Series*                          Days Requested                             Extension Cost
                                      Rate lock extensions on conforming, Agency priced loans vary
                                      depending upon how we have hedged the interest rate risk. For
                                      that reason, Brokers will have to contact the Lock Desk in
     Agency Conforming
                                      Secondary Marketing with the loan number to receive an answer
                                      on an individual loan. Often the cost, if any, depends on the
                                      direction of market at the time the extension is requested. It is
                                      always our policy to provide as competitive a price as possible
                                      recognizing that it is in everyone’s best interest to close a loan at a
                                      fair price.
        AltAmate Series                                 15 days                                     .125
        Owner Occupied                                  30 days                                     .375

         Altamate Series                                15 days                                      .25
           Non Owner                                    30 days                                     .375

                                                        7 days                                      .125
              Sky Series                                15 days                                     .250
                                                        30 days                                     .375

                                                        7 days                                      .125
         Gold Sky Jumbo                                 15 days                                     .250
                                                        30 days                                     .375

                                                        3 days                                      .125
        Intelligent Series
                                                        15 days                                     .250

         Singular Series                       Variable days allowed                         .015 bps per day
             Additional               *Requests for a second extension will be considered only after
             Extensions               the file has been cleared for close and will be priced at original
                                      price or current market, whichever is higher.
Changing Loan Programs                 If a loan changes to a different loan type (i.e. Fixed to ARM)
                                          within the same Program Series the price reverts to the
                                       original rate sheet. A change to a different Program Series is
                                                      subject to current market price.
    Changing Property                     A change in the property address requires a new lock at
         Address                                         current market rates/prices.
   Changing Lock Periods                     Lock periods may not be changed once confirmed.

Price Extension Policy                                                                                Rev 12/01/05

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