Extension Policies Lock Expiration Dates ... - Provident Bank
[Pages:1]Provident Wholesale Rate Sheet
3756 Central Avenue, Riverside, CA 92506
Wednesday, March 23, 2022
8:24 AM
Price Code:
2022-755
Market Update
ARM Products Still Available for ALL of California
Check Out Our Fixed Rate Sheet for Properties in the Inland
Monday
Economic Releases n/a
Treasuries are mixed ahead of the opening bell on Wednesday, as Wall Street braces for another round of commentary from U.S central bank officials. Federal Reserve (Fed) Chair Jerome Powell is set to take part on a panel discussion, while San Francisco Fed President Mary Daly and St. Louis Fed President James Bullard are both anticipated to speak at separate engagements. This morning, the yield on the benchmark 10-year note is holding steady at 2.38%, while the 30-year bond yield is up one basis point (0.01%) to 2.61%. On the shorter-end of the curve, the yield on the two-year note is down two basis points (0.02%) to 2.14%, still up 141 basis points (1.41%) so far in 2022 with nearly half of the gain coming since the start of March. The recent sell-off in bonds has been felt around the world, with a gauge of global government and corporate debt from Bloomberg having fallen 11% from
its January 2021 high, which marked the biggest drawdown from a peak going back to data from 1990. On the data front today, a release this morning showed MBA mortgage applications slumped
8.1% in the week ending March 18 after dipping 1.2% in the prior period. A separate release is expected to show new home sales rose 1.1% in February after falling 4.5% in January. On the auction front, the U.S. Treasury is set to sell $22 billion two-year floating rate notes (FRN) and $16 billion 20-
year bonds.
Tuesday
n/a
Wednesday MBA Mortgage Applications
Thursday
Initial Jobless Claims, Durable Goods Orders
Friday
n/a
Extension Policies
Days 7 Days 15 Days 20 Days
Cost 0.125 0.250 0.375
*Lock Desk Hours 9:00am - 9:00pm*
Turn Times... Purchases will take Priority
Set Up 3 Days
Underwriting Purchase
Transaction
6 Days
Lock Expiration Dates
Lock Period Expiration 30 Days 04/22/2022 Underwritten Loans Only 45 Days 05/07/2022 60 Days 05/22/2022
Lender Fees
Product
Fee
1st Liens $995.00
2nd Liens $495.00
3rd Extension or Relocks: Worse Case Pricing Plus .25 For 15 Days
Underwriting Refi Transaction
8 Days
Condition Review
Purchase - 4 Days
Refi - 5 Days
Closing Disclosure
(CD)
1 - 2 Days
Docs 24 Hours
Fundings 2 Days
Portfolio Conforming and Jumbo - Hybrid ARM 1st TD's
3/1 Libor Arm PA31/PA31J
3.375 (.750)
2.50% Margin & 2/2/5 Caps 7/6 SOFR Arm
PASO76/PASO76J
Rate 30 Day 45 Day 60 Day 3.875 (2.125) (1.875) (1.625) 3.750 (1.625) (1.375) (1.125) 3.625 (1.250) (1.000) (0.750) 3.500 (0.750) (0.500) (0.250)
5/6 SOFR Arm PASO56/PASO56J
Rate 30 Day 45 Day 60 Day 3.750 (2.125) (1.875) (1.625) 3.625 (1.625) (1.375) (1.125) 3.500 (1.250) (1.000) (0.750) 3.375 (0.750) (0.500) (0.250)
2.750% Margin & 2/1/5 Caps
10/6 SOFR Arm PASO106/PASO106J
Rate 30 Day 45 Day 60 Day 3.999 (2.125) (1.875) (1.625) 3.875 (1.625) (1.375) (1.125) 3.750 (1.250) (1.000) (0.750) 3.625 (0.750) (0.500) (0.250)
Index: 30-Day Avg. SOFR 0.099
LTV 80.01 - 90.00%
Loan Amounts > $647,200
Cashout Refi $1,000,000
Purchase, Rate/Term:
> $1,000,000 $1,250,000
Fico 690 - 699
(Purchase only)
2 Units
2nd Home
Max Rebate
PASO56/PASO56J/PASO76J
PASO106J
PASO76/PASO106
.125% to Rate .375% to Fee .125% to Rate .250% to Rate .500% to Rate .125% to Rate .250% to Rate .500% to Fee .250% to Fee .125% to Rate
2.250% 2.250% 2.250%
Mortgagee Clause
Provident Savings Bank, F.S.B. Its Successors and/or Assigns
3756 Central Avenue Riverside, CA 92506
2.750% Margin & 5/1/5 Caps
2.750% Margin & 5/1/5 Caps
***PRICING DOES NOT INCLUDE BROKER COMPENSATION***
Portfolio 2nd TD
5/1 Arm Closed End 2nd TD
PA30CE2ND
Start Rate
30 Day
Margin
4.750 5.000 5.250 5.500
0.250 (0.500) (1.000) (1.500)
1.250 1.500 1.750 2.000
Index: WSJ Prime Rate 3.500%
Loan Amt (Max) $250,000
CLTV FICO
75.00% 700
Term
30 Years
Caps
3/3/6
Please See Guidelines For All Pertinent Terms and Conditions
Provident Wholesale Account Excecutive
Wendy Hughes - NMLS #613317
WHughes@
(714) 330-4511
Provident Loan Coordinator
Karla Palumbo - NMLS #1870966 KPalumbo@ 951-782-6136
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