TEMPORARY WHOLESALE FHA STREAMLINE REFINANCE PRICE ADD-ON
In order to ensure that REMN Wholesale continues to offer industry-leading service on purchase transactions, we are instituting a temporary 75 basis point (0.75%) price add-on for all FHA Streamline refinances.
This add-on is effective immediately for all new FHA Streamline submissions. It does not affect any Streamline that has been locked, or submitted as either a litefile or full file prior to this announcement. This only affects wholesale submissions; this announcement does not affect any other lending channel.
To reiterate, this has become necessary in order to preserve our level of service on purchase transactions. As you would expect, the dramatic increase in the volume of refis was beginning to cause REMN Wholesale turntimes to deteriorate. We are aggressively increasing our staff in order to accommodate more volume without compromising the service you have come to depend on (including opening an additional underwriting center in Wall, NJ). Once we have successfully increased our staff, we will eliminate this temporary add-on.
As always, REMN Wholesale appreciates your loyalty and business!