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https://acuma.org/member/uploads/201708-pipeline/26_SecondaryMarketBestEffortsMandatory.pdf
also known as delivery commitments, to sell a loan or group of loans to an investor at a particular rate within a certain period of time—typically 15 to 60 days. Those commitments can be made on either a “best efforts” or “manda-tory” basis. BEST EFFORTS COMMITMENT Under a best efforts commitment, the originator agrees to make a genuineFile Size: 337KB
https://www.investopedia.com/terms/b/bestefforts.asp
Oct 03, 2019 · Best efforts is an agreement in which an underwriter promises to make a full-fledged attempt to sell as much of a securities offering, such as an initial public offering , as it can to the public ...
http://www.freddiemac.com/singlefamily/factsheets/sell/best_efforts.html
Best Efforts Commitment Option. Lock in competitive rates and reduce exposure to interest rate fluctuation. Freddie Mac's best efforts commitment option reduces your interest rate and pipeline risk, providing greater control over all your secondary market activities.
https://www.investopedia.com/terms/b/best_efforts_mortgage_lock.asp
Jun 25, 2019 · Best Efforts Mortgage Lock: When the sale of a mortgage in the secondary mortgage market requires that the seller, usually a mortgage originator, make a "best efforts" attempt to deliver the ...Author: Julia Kagan
https://singlefamily.fanniemae.com/media/7386/display
A best efforts commitment allows you to enter into an agreement to sell a loan to Fannie Mae, but if the loan does not close, you typically will not be charged a pair-off fee for non-delivery. Through our best efforts execution, loans are sold to Fannie Mae under loan level commitments. Bulk commitments and loan substitutions are not allowed.
https://www2.optimalblue.com/making-the-decision-to-go-from-best-efforts-to-mandatory-sale-strategy/
Investor Management: When going from a best-efforts to a mandatory strategy, it is important to make sure that (1) your current investors are aware of the new delivery strategy and (2) they are evaluated to ensure that they are the best outlets for the new strategy. Many investors offer incentives on the delivery method used by the originator.
https://singlefamily.fanniemae.com/job-aid/pe-whole-loan/topics/modifying_a_best_efforts_commitment.htm
Modifying a Best Efforts Commitment Managing Commitments Overview. The Pricing & Execution – Whole Loan® (PE – Whole Loan) application allows you to manage the circumstances surrounding your mandatory and best efforts commitments. This job aid provides information on executing an extension for a best efforts commitments.
https://www.gopennymac.com/tools/seller-guide/commitment-options
Mortgage Loans previously locked in a Best Efforts commitment may not be allocated or delivered into a Bulk commitment unless such commitment was locked greater than sixty (60) calendar days after the earlier of the Best Efforts cancellation date or most recent commitment delivery due date.
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