Pricing is normally posted around 10:00am CST and is valid until 6:30am CST the following business day, unless there is a mid-day price change.  In the case of a mid-day change, the new prices will be in effect until 6:30am CST the next business day.

The loan must be closed/disbursed and delivered to us on or prior to the lock expiration date; otherwise, you will be required to relock at worse-case.

Relocks are “worst-case” pricing and must be done after the lock expires.  A relock can be for 10 or 30 days. Correspondents must complete the Rate Re-Lock / Extension Form and fax it to us prior to 4:30pm CST in order to calculate the relock price that day.  Requests received after 4:30pm CST will have the price calculated using the next day’s pricing.

Correspondents can complete and fax the Rate/Price Quote Request Form for off sheet pricing.  Requests must be received by 4:30pm CST to correspond to that day’s pricing.  Requests received after 4:30pm CST will be considered in relation to the upcoming price sheet on the following business day.

The price over par is due back to 1^st Advantage whenever a loan pays in full in 120 or fewer days from the date that we purchased the file.  This repayment is applicable regardless of the reason for payoff.

Programs on Page 1 of our rate sheet are eligible with a $1000 upfront fee.  Soft locks are available from 90 to 360 days with a one-time float down option.  Hard locks are available from 120 to 210 days.  Please refer to Page 1 of the rate sheet for further details.

1^st Advantage Mortgage, a Draper and Kramer Company

Attn: Correspondent Lending / File Coordination

701 E 22nd St., Suite 125
Lombard IL 60148

Please contact your account executive.  If you are unsure of who your account executive is, please contact our help desk at 800-487-6693 or our Correspondent Relations Manager at 630-376-0575.

Yes.  Correspondents who are granted delegated authority may underwrite loans up to $417,000

GE/Genworth, MGIC, AIGUG, RMIC, PMI and Radian

You may electronically submit your file for underwriting.  Please contact your AE for details regarding this process.

1AM purchases loans closed with a real estate specific Power of Attorney.  The Power of Attorney document must be approved by 1AM prior to closing and the original 1003 must be marked as a face to face interview.  A POA is not allowed on properties held in Trust.

Commitment fee                     $300

1^st Advantage Mortgage, a Draper and Kramer Company
Attn: Correspondent Loan Review

701 E 22nd St., Suite 125
Lombard IL 60148

We must receive pended items within 7 calendar days from the date of suspension.  Starting calendar day 8, a reprice cost of 1.00bps (.010) per day applies.

Yes.

Draper and Kramer Mortgage Corp
dba 1st Advantage Mortgage ISAOA
701 E 22nd, Suite 125
Lombard IL 60148

Yes.  Please fax to (630)-261-2275  Attn: Chery Lambert

1001885

1AM will purchase loans closed in an Illinois Land Trust or a Revokable Living Trust.  Trust Agreements and an additional Attorney’s Opinion letters must be approved by 1AM prior to closing.  Investment properties are ineligible.