SUBJECT: Simple Access Product Updates

DATE: February 11, 2022

Due to volatility in the non-QM market, we have been forced to make several temporary changes to our Simple Access product suite.  These changes are effective immediately and apply to loans being submitted as well as pipeline loans.


Our current policy of no more than 2 lock extensions totaling 30 days will be strictly enforced.  Any extension request not falling inside of this policy will be priced to worse case.


Guideline exceptions are temporarily suspended.  Details are below.

Loans with Unapproved/Pending Exceptions

  • Regardless of application date, loans with an underwriting exception not approved on or before 2/9/22 will no longer have the exceptions considered. This applies to both locked and floating loans and includes exceptions that have already been submitted for approval.

Locked Loans with an Approved Exception

  • Previously approved exceptions on locked loans still within the lock validity period will be honored.
  • Loans where exceptions were previously approved, and a change or modification is now required, can no longer be considered.   The loan file must meet the exception criteria EXACTLY as submitted and approved.
  • In the event the lock expires, please contact Secondary to determine if the lock can be extended.

Floating Loans with an Approved Exception

  • When locking a loan with an approved exception the Lock Desk must be notified of the underwriting exception for a final price to be determined. As a reminder, this is only applicable if a written exception was received and approved on or before 2/9/22. Only REMN’s Lock Desk can determine the final price.


  • Applications can continue to be originated and/or locked to our published Simple Access guidelines.
  • LLCs are still permissible however must meet the guideline parameters exactly .

**Please contact your Account Executive with any questions**

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