Bulletin 2022-059 TBD Locks
Newrez LLC "Newrez" Approved Delegated and Non-Delegated Correspondent Clients: Newrez is introducing TBD locks allowing for rate protection for your borrowers while they search for their dream home.
- Purchase transactions only.
- Agency fixed rate products.
- Rate sheet pricing without additional LLPA.
- Valid property address to be provided prior to loan purchase submission.
- 50bps non-delivery fee will apply to locks that fail to deliver.