SBL Guide Addendum Updates
December 4, 2015
We have revised Chapter 18 ("Originating a Small Balance Loan") of the Small Balance Loan (SBL) Guide Addendum to update the standard and early rate-lock delivery option provisions and to incorporate terms previously set out in the Letter of Commitment and early rate-lock application.
We’ve also added these new sections to Chapter 18:
- 18.28 Small Balance Loan Purchase Product Loan Documents
- 18.29 Maryland or Florida – Originating SBL Mortgages by Assignment, Amendment and Restatement
- 18.30 South Carolina Notice
- 18.31 Assignment
- 18.32 Buy Up (Premium Pricing)
- 18.33 Operational Repairs – Repair Letter
Seller/Servicers are encouraged to read the revised version of Chapter 18 in its entirety.