Article: Longer Locks for Community Banks.

DETROIT -- A new program is making it possible for community banks to retain pre-approved mortgage customers whether they move boxes into their dream home within 30 days or need to look a little longer for their dream home.

Community banks are getting more time to close with pre-approved borrowers by using InterFirst Wholesale Mortgage Lending's "Lock & Go" program. The online loan originator's program operated through its Financial Institutions Group, gives community banks power to lock in a borrower's mortgage loan rate for up to 240 days on InterFirst's site (InterFirstlink.com) before the borrower has a purchase agreement. Lock & Go includes a one-fee ...

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