Rate Re-Lock or Extension Form
Re-lock: Must be done after rate expires. Pricing will be “worst case”. A relock can be for 15 or 30 days, with 30 being the maximum. Request must be received prior to 4:30 pm central time, requests received after 4:30 pm will be subject to the next days pricing. Must be done Prior To 4:30pm (central time) of the commitment expiration date. MSI Extension Policy: (Effective with locks on and after 10/3/05) 2 Business Days: Free! (Can only be used as a 1st and only extension) 1 – 30 Days: 1.5 bps (.015) per calendar day, 30 day maximum 2nd Extension Request: 2.5 bps (.025) per calendar day, 30 day maximum If a 2 day “free” extension is used and more days are required, the 2 days are no longer free. There will be a charge of 3 bps for the 2 days used in addition to the other days requested at a cost of 1.5 bps (.015) per day. All Extensions/re-locks obtained will remain a best-efforts delivery. The aggregate number of days a loan can be extended cannot exceed 60 days. To request a re-lock or extension, please complete the following and fax to: Fax # (309) 661-6482.
Extension:
Request Type:
Re-Lock: _________
Extension: __________
Borrower’s Last Name: ______________________________ MSI Loan #: _________________________________________ Expiration Date: _____________________________________ Number of Days Requested: _________________________
Requester’s Name: ____________________________________ Request Date:______________ Company Name: __________________________________________ Phone Number: ____________________ Fax Number: ___________________________
Confirmation:
(For MSI Use Only) Extension Fee: ___________ Confirmed By: ____________
New Expiration Date: ___________ Price: ___________
*If you do not receive confirmation within 24 hours, please call (800) 487-6693. After 48 hours MSI is not responsible for Rate and Price. (10/3/05)