Freddie Mac offers two commitment paths - summary and detail commitments.
With a summary commitment, you lock in prices for a specific 51- basis-point range within the eligible range posted for any given day, and we tell you the prices for each one-eighth percent coupon.
With a detail commitment, you select a specific note rate within the eligible range posted for the day, and we tell you the price for that particular coupon. You get the same price for your loan regardless of which commitment path you choose.
Under a summary commitment you do not receive an exact price for non-eighth percent note rates until your loans are funded; with a detail commitment, you receive that price up front.
Remember, when selling a seasoned mortgage under Gold Cash®, you must contact the Cash Desk at (800) 366-2353 before obtaining a commitment.