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Information for Single-Family Lending and Real Estate Professionals
 
Program Announcement

March 19, 2020
Rate Volatility in the Market. Please Plan Accordingly.

Dear Partners,

Due to the market turmoil, we have not been able to offer a 0% rate option for our government loans and for some conventional options for the past two days under our Home Advantage program. Given the fluidity in the markets, we may not be able to offer some rate options every day. Currently, there is a lack of liquidity for higher coupon loans in the marketplace where our loans are placed. Like you, over the last few days we have seen a dramatic repricing in the market due to the uncertainty with COVID-19 and had to adjust our rates and product options accordingly.

Our team is staying on top of this market phenomenon and as the markets heal, we will be sure to expand our rate sheet. We do expect rationality to return to the market over time. In the meantime, please prepare your borrowers for a variety of scenarios and potentially for frequent rate changes throughout the day.

Also, please check the effective date and time on the rate sheet, use Google Chrome, and be sure to refresh your browser as well as clear your cache.

We are doing everything we can to keep our programs relevant in these very difficult markets. We will do our best to keep you apprised of changes.

Thank you for your patience during this challenging time and as always, thank you for participating inthe Commission's programs. We appreciate all you do!

If you have additional questions, please email Corinna Obar

 

 
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