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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 the mortgage to the buyer.Author: Julia Kagan
https://acuma.org/member/uploads/201708-pipeline/26_SecondaryMarketBestEffortsMandatory.pdf
on either a “best efforts” or “manda-tory” basis. BEST EFFORTS COMMITMENT Under a best efforts commitment, the originator agrees to make a genuine attempt to deliver a particular loan with a specified note rate, term, and dollar amount, within a certain pe-riod of time. Best efforts commitments are made on a loan-by-loan basis, and one loanFile Size: 337KB
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 the loan closes.
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either because (i) the mortgage failed to close on or prior to the contract expiration date or (ii) the mortgage was withdrawn, you may relock the contract.
https://firstfundingusa.com/questions/what-is-the-difference-between-and-investors-best-efforts-and-mandatory-delivery-pricing/
Best Efforts pricing generally means that the Correspondent Lender has no financial risk in case of non-delivery of the subject loan, however, the Secondary Market Mortgage Investor will usually track and fallout and report upon it via Correspondent Lender scorecard or other similar rating system.
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://mct-trading.com/introduction-to-mandatory-loan-sale-delivery/
May 29, 2019 · Delivering your best efforts loan to a single investor meant that you were only underwriting to the investor that purchased the loan. Now that you’ve identified which loans will be sold through mandatory delivery, your underwriting team will need to …
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://www2.optimalblue.com/making-the-decision-to-go-from-best-efforts-to-mandatory-sale-strategy/
Best efforts shops lock loans with the investor as soon as they lock a rate with the customer. It makes sense to underwrite to the investors guidelines. When selling mandatory, the investor is not selected until funding of the loan.
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 ...
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