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Article: Fannie Mae Early Rate Lock MBS/DUS Option Lets Multifamily Mortgage Borrowers Lock in Interest Rate and Avoid Interest Rate Risk; Gives Lenders Efficient Secondary Market Execution
- Article from:
- PR Newswire
- Article date:
- February 10, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ORLANDO, Fla., Feb. 10 /PRNewswire/ -- Multifamily mortgage lenders now can offer their borrowers the ability to lock in an interest rate for up to 90 days, avoiding the risk of interest rates rising while waiting for lenders to process and approve their loans, using the new Standard Early Rate Lock MBS/DUS option offered by Fannie Mae (NYSE: FNM), the nation's largest source of home mortgage funds.
The Delegated Underwriting and Servicing/Mortgage-Backed Securities (commonly referred to as MBS/DUS) commitment provides lenders with the right to deliver eligible MBS/DUS mortgages to Fannie Mae before the underwriting and loan approval processes have been ...