Lock your loans.
For a competitive rate.
Pricing and locking your loan is easy. Follow these steps:
1. Import and log into DirectWare®. You can import through Calyx Point®, upload an Encompass® (Ellie Mae) Fannie Mae file or a (.FNM) file created in Byte, Genesis or other programs. Or enter the data directly into DirectWare. (Manual submissions are also accepted.)
2. Complete the Submission Ready Wizard. This includes pulling a credit report or reissuing credit and matching the credit report with your real estate owned liabilities. You can also add costs for the HUD good faith estimate.
3. Adjust loan criteria in the "Loan Search Criteria"area and click "Submit" at the bottom of the page to view different scenarios. Your loans choices will display with the best loan options sorted to the top.
4. Click the "Price & Lock" link for the loan of your choice. A new window will appearth showing a full list of Interest Rates and Lock Periods. Click a YSP in in the column of your desired lock period, then review the rate and YSP after all the adjustments. If the final rate and YSP is what you'd like to lock, then click the "Lock" button at the bottom of the page.
5. *Note that you will still need to select a loan in order to move it to underwriting.
Ready to Save Time and Earn More Money?