Effective May 11, 2020, the Wholesale/Correspondent lock policy will allow a 60-day lock at the Approval milestone regardless of whether the appraisal has been received. There is no longer an option for a 45-day lock term. See updated Minimum Lock Term table below.
Encompass and Optimal Blue will enforce these requirements.
Refer to the CMS Wholesale Rate Lock Policy for additional information.
Contact your Account Executive with questions.
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Government Agency Approval | FHA Non-Supervised Mortgage Approval #: 24751-0000-5 | VA Automatic Lender Approval #: 902324-00-00