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New Pricing Adjusters for All FHA Streamline Refinance Products
(Applicable to Correspondent Channel)

Dear Valued Partner,

Based on the industry-wide assessment of the higher risk associated with FHA Streamline Refinances, Sun West has updated the pricing adjusters on FHA Streamline Refinances for both Prime and Express products. To minimize the impact of the adjuster on your current pipeline, special pricing improvements have also been created for borrowers with credit scores greater than or equal to 700.

Below is a chart summarizing the changes in price adjustments:

PRICING ADJUSTERS (FHA Streamline Refinances Only)
700 ≤ FICO < 720
25 BPS IMPROVEMENT!
EXISTING ADJUSTER
NEW ADJUSTER
0.0000
0.250
FICO ≥ 720
25 BPS IMPROVEMENT!
0.125
0.375
All FHA Streamline Refinance Transactions
(0.500)
(0.750)

The pricing adjuster update applies to all three commitment channels: Best Effort, Single Loan Mandatory, and Assignment of Trade (AOT).

Commitment Channel
Effective Date
Best Effort and Single Loan Mandatory
August 15, 2012
Assignement of Trade (AOT)
September 1, 2012

If you have any questions, please feel free to contact your Account Executive at (855) SUN-PRICE or (855) 786-7742.

Sincerely,

Sun West Mortgage Company, Inc.
18303 Gridley Road
Cerritos, CA 90703
Phone : (800) 453-7884
Equal Housing OpportunityThis information is provided to licensed wholesale brokers only and may not be copied or distributed to customers or potential customers. All loans are subject to approval. Certain restrictions may apply. Listed pricing is a morning indication only. Program rates, prices, guidelines, fees, costs, terms and conditions are subject to change without notice.

Sun West Mortgage Company, Inc. (NMLS ID 3277) is licensed by the Department of Corporations as a California Finance Lender (License #603 0119) and is licensed by the Department of Real Estate (License #00793885). Refer to www.swmc.com to see where SWMC is a licensed lender. In all states, the principal licensed office of Sun West Mortgage Company, Inc. is 18303 Gridley Road in Cerritos, CA 90703; Phone: (800) 453-7884