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Wholesale Mortgage Express Rate Locks

Are you ready to rise above the competition and close more loans?

Contact us today: (844) WME-2967


When a rate lock expires and you want to relock, it’s subject to worse case pricing, plus an additional relock adjustment of the following:

  • Relocked within 30 days of expiration/cancellation: .375 fee
  • Relocked within 31 - 60 days of expiration/cancellation: .125 fee

After 60 days, you can lock at current market rates.


Rate lock extensions cost the following:

  • 15-day extension cost: .25 bps
  • 30-day extension cost: .50 bps
  • Example: A 30-day rate lock with a 30-day rate lock extension would cost .50 bps.

A lock cannot be extended for a period greater than the initial lock period.

    Example: A 15- or 30-day extension can be used for a loan originally locked for 30-days. A 60-day extension can’t be used.


WME does not have a cap on BPC, other than the points and fees test.

  • LPC allows a rebate to cover non-recurring closing costs.
  • BPC allows a rebate to cover non-recurring closing costs not including origination.
  • Example: A broker who has selected a 1.75% LPC can go to a 2.50% BPC.