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Loan Lock Reminders
 Lenders with full MAS access should lock their floating reservation through MAS on the Loan Detail screen. Please review the Guide: Locking a Rate for more information.
We have also seen an increase in the number of loan officers and processors changing the loan type after locking the rate, going from FHA to Conventional, changing the ZIP amount from 3% to 4%, and others. This causes a significant of amount
of
back
-
end work, including
getting
individual approval from the Master Servicer
.
While we strive to make these changes transparent to lenders, this switching of loan programs slows down processing times considerably for every loan in the queue.
Please make sure you have the correct loan type prior to locking your rate-you can always use the
CalHFA Loan Scenario calculator to help calculate the right loan for your clients.
For more information, or questions regarding existing rate locked loans or extensions please contact RateLocks@calhfa.ca.gov .
We thank you for your continued partnership with CalHFA.
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