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Rate Lock Policy
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Rate Lock Hours |
Effective September 1, 2007, we will offer weekend
lock-ins for the conforming 15 and 30 year fixed
products. You must be eligible to request a lock per our
written policy stated here in our website. Requests
should be made to info@americaninterbanc.com Please
reference the loan specialist assigned to your file, the
loan number we gave you when you completed your
application, the rate combination you are requesting and
a contact phone number to reach you over the weekend.
Lock requests for these two programs will be honored if
received before 4:00 PM PST/PDT. We will not be taking
requests from our voicemail. We reserve the right to
terminate this offer without notice. For the remaining
programs, lock requests will be accepted from the time
we post rates on our website until 4:00 PM PST/PDT
Monday through Friday, excluding holidays. No locks will
be accepted on holidays. Please call 800-724-0004 or
email us with specific requests. Please use email
communications during non-working hours. |
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What We Require |
| In order to be eligible to
lock a loan, we must acknowledge and be in receipt of a
complete application sent from our secure website, a
rate lock agreement signed by the borrower, and all of
the initial required documents itemized in the Required
Documents section of our website. Unlike most companies,
we do not require that you be approved in order to lock
in an interest rate. On a purchase transaction, we do
require that you show proof that you have a home under
contract. |
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Losing Your Lock/Failure To Comply |
American Interbanc reserves
the right to cancel or modify the duration of a rate
lock for the following reasons:
- If at any time the
borrower has not provided any documents we have
requested within 48 hours of our request.
- If at any time the borrower has delayed the
process by failing to comply with appointments.
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Confirmation of Lock |
| Lock requests are executed
immediately upon receipt. The borrower should consider
his lock confirmed only upon receipt of a letter
signed by an authorized representative of American
Interbanc Mortgage, LLC. |
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Volatile Market Conditions |
| American Interbanc reserves
the right to suspend lock requests on any business day
that market conditions prohibit our ability to execute a
lock. |
American Interbanc Mortgage, LLC
4
Park Plaza, Suite 100
Irvine, CA 92614
Toll Free: 800-724-0004
Fax: 714-957-9433
E-mail:
info@americaninterbanc.com
Copyright © 1998
American Interbanc Mortgage, LLC
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