*Time Sensitive Announcement*

Fannie and Freddie have announced that they will be making changes to their Second Home and High Balance pricing adjustments.

GMFS will be implementing the new pricing on loans that lock on or after January 24th, 2022.

For loans that are currently locked and for new locks prior to the implementation of the new LLPAs, these loans must close and fund no later than February 28th to avoid being impacted by the Freddie and Fannie change.

Important: For loans locked without the new pricing adjustment that extend the lock expiration past February 28th, the new adjustment will be manually applied prior to closing.

• this will not automatically applied by the system when the user requests an extension, but when identified by GMFS.
• this announcement takes precedence over the policies published in our guide.
• applicable loans must close and fund by February 28th to avoid the new pricing adjustment.
• deadlines will be applied without exception.

Thank you for your cooperation, we appreciate your efforts to manage your locks accordingly.