Smart Series Rate Locks and Extensions
Newrez Approved Correspondent Clients: please see important messaging below regarding Smart Series rate locks and extensions.
Due to the changing rate environment, please adhere to the following regarding Smart Series rate locks and extensions:
- Purchase Transactions: locked prior to 03/29
- Extensions permitted.
- Refinance Transactions: locked prior to 03/29
- Client must close and fund the transaction before the original lock expiration of the rate lock.
- No extensions permitted.
- New Transactions: locked on or after 03/29
- Client must close and fund the transaction before the original lock expiration of the rate lock.
- No extensions permitted.
If you have a question about Smart Series or need to confirm a customer scenario related to Smart Series, email CorrespondentUnderwritingSupport@Newrez.com to connect with a dedicated underwriter.