Fillable Loan Extension And Re-Lock Request Form printable pdf download

Exhibit MM

LOAN EXTENSION & RATE RE‐LOCK REQUEST FORM

Fax to 917‐274‐0426

NOTE: If submitting this request on a Thursday, it must be faxed no later than 5:00 PM EST.

Lender: _____________________________________________________________ Today’s Date: _________________________

Contact Name: __________________________________ Telephone #: _______________ E‐mail Address: _____________________

LOAN INFORMATION

SONYMA Loan #_____________________ Loan Amount: $_________________

Applicant(s) Name:_____________________________________________________________

Property Address: ______________________________________________________________

Program: Low Interest Rate Construction Incentive ATD Other: __________________________________

Lock‐in Type: Short‐Term Lock‐in Long‐Term Lock‐in DPAL Utilized: Yes No

Initial Interest Rate ________% Initial Loan Expiration Date: ___________________ Today’s Lock‐in Interest Rate: ________%

Please enter the following information only if the interest rate was previously re‐locked:

Previously Re‐Locked Interest Rate: ________%

Previously Extended Loan Expiration Date: _______________

LOAN EXTENSION AND INTEREST RATE RE‐LOCK REQUEST

We hereby request that the Loan Expiration Date for the above‐referenced mortgage application be extended for a period of 45

days from Today’s Date. We understand that SONYMA, at its sole discretion, will decide on the validity of this extension request. We

also understand that if this request is submitted after the loan has expired (after the Initial Loan Expiration Date, or if applicable the

Previously Extended Loan Expiration Date), the Lender will be charged a penalty equal to 0.25% of the Loan Amount. The extension

is necessary because:

_______________________________________________________________________________________________________

Attached is documentation from an appropriate source to support our request (appropriate sources include: attorney, title

company, builder, etc.).

If SONYMA denies the extension request, SONYMA will not purchase the mortgage loan.

If SONYMA approves the extension request, the Interest Rate equal to the highest of the (a) Initial Lock‐in Interest Rate, (b) Today’s

Lock‐in Interest Rate, or (c) the Previously Re‐Locked Interest Rate (if applicable), shall apply and the loan will expire 45 days from

Today’s Date.

Date: ____________________

Certified by: _______________________________________

(Lender Authorized Representative)

Instructions to Lender: Please access Lender Online (LOL) 48 hours after submitting this form to check the status of

Lender’s request. If the request is approved, please make sure your records match the re‐locked interest rate and loan

expiration date reflected on LOL. If the interest rate has increased, Lender is responsible to ensure higher rate is

acceptable to the pool insurer.

SONYMA Form #235/8‐11

Loan Extension And Re-Lock Request Form