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https://www.investopedia.com/terms/b/best_efforts_mortgage_lock.asp
Jun 25, 2019 · A best efforts mortgage lock is when the sale of a mortgage in the secondary mortgage market requires that the seller, usually a mortgage originator, makes their best-effort attempt to deliver …Author: Julia Kagan
https://acuma.org/member/uploads/201708-pipeline/26_SecondaryMarketBestEffortsMandatory.pdf
that best efforts delivery is the “safer” choice. But the truth is more complicated, and depending on market conditions and the lender’s individual business model, mandatory
https://sf.freddiemac.com/working-with-us/sell-for-cash/content/best-efforts-fixed-rate-execution-option
If a best efforts fixed-rate contract will not close prior to the contract expiration date or has a status of "unfulfilled" for less than or equal to 30 days either because (i) the mortgage failed to close on or prior to the contract expiration date or (ii) the mortgage was withdrawn, you may relock the contract.
http://www.freddiemac.com/singlefamily/factsheets/sell/best_efforts.html
Freddie Mac's best efforts commitment option reduces your interest rate and pipeline risk, providing greater control over all your secondary market activities. Our best efforts commitment option allows you to lock in competitive prices for fixed-rate cash contracts that become mandatory only if …
https://www2.optimalblue.com/making-the-decision-to-go-from-best-efforts-to-mandatory-sale-strategy/
However, they have no way of assessing that statement. In addition, there are many other considerations a mortgage company must evaluate before making a decision to sell their loans mandatory. The improvement in price achieved by selling loans mandatory is often referred to as the best efforts – mandatory spread.
https://www.franklinamerican.com/wiki/_media/public_extranet/correspondent_manual/manualpricinganddeliverypolicy0317.pdf
Best Efforts Pricing & Delivery Policy March 2017 1 Pricing Interest rates and purchase prices are quoted on Franklin American Mortgage's daily rate sheet. All prices are quoted as a percentage of par. Any servicing release premiums due to the Correspondent are in addition to the quoted price.
https://sf.freddiemac.com/content/_assets/resources/pdf/fact-sheet/best_efforts_commit_bp.pdf
November 2019 Freddie Mac Learning Page 3 Best Practices for Best Efforts Contracts 4. The 60-second Contract Price screen displays, where you accept or reject the contract. Note: Loan Selling Advisor only saves the import modifications if you accept the price. 5. The 15-second Contract Price screen displays. Choose whether you agree or do not agree to the terms.
http://www.mortgagenewsdaily.com/garrett_watts/134320.aspx
Brad: AOTs continues to be the best all in price, followed by direct trades, bulk trades, single loan mandatory and best efforts. AOT is traded directly with street firms.
https://singlefamily.fanniemae.com/pricing-execution
Best execution comes down to what is most efficient and profitable for your company. Fannie Mae offers the certainty, options, and outstanding customer service to meet your company’s needs. Our Capital Markets experts are available and uniquely qualified to help you commit whole loans, trade MBS, analyze best execution, provide market color ...
https://definitions.uslegal.com/b/best-efforts/
Best efforts is a contractual term used to obligate the parties to make their best attempt to accomplish a goal, typically used when there is uncertainty about the ability to meet the goal. Courts have not required that a party under a duty to use best efforts to accomplish a given goal make every available effort to do so, regardless of the ...
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