Long Term Locks –  Lock periods  from 4 to 9 months

• Rate will be the Fannie / Freddie 90 day rate offered in OB
• Conventional loans only & Construction loans only
• Brokers must use GMFS Disclosure Desk and compensation must be Borrower Paid
• Flat fee will be charged and collect upfront at a rate of .375% per month of the loan amount requested at the time of the lock request
  • Due prior to lock acceptance
  • Nonrefundable
  • May be collected from Borrower, Seller* or Correspondent Client.