American Interbanc will consider requests by borrowers to "Float Down" certain locked loans prior to the expiration of the lock or the funding of the loan, whichever is earlier, subject to the terms in this policy.  The term "Float Down" means and refers to a borrower's desire to take advantage of improvements in the market and renegotiate better loan terms than those to which the borrower previously committed at the time he or she executed a rate lock agreement.  A "Float Down" is available only on a one-time basis per loan and only for fully approved loans with all conditions satisfied.  "Float Downs" are not available for adjustable rate mortgages, and American Interbanc reserves the right to decline to agree to a "Float Down" at its discretion.  Any borrower desiring to negotiate a "Float Down" on an eligible mortgage loan shall be subject to the following, an additional fee:  $500.00 or .5% point (based on loan amount), whichever is greater.  A borrower with a 30-day lock may only "Float Down" to current 30-day pricing, and a borrower with a 15-day lock may only "Float Down" to current 15-day pricing. A "Float Down" shall not extend the original expiration date of the initial lock period.  All extension costs associated with a "Float Down" shall be paid by the borrower. Float downs are not available in NJ.

1. If at any time the borrower has not provided any documents we have requested within 48 hours of our request.
2. If at any time the borrower has delayed the process by failing to comply with appointments.