State-specific servicing values enable improved pricing
January 21, 2021 – Rushmore Correspondent Lending has launched a new competitive best efforts rate sheet for loans delivered through its correspondent channel. Rushmore’s new model uses state-specific servicing values that enable improved pricing. The new pricing is available as of January 21, 2021.
With the launch of the new pricing, state-specific servicing release premiums (SRP) will be incorporated into all pricing engines and included in rate sheets. Previously, an average SRP value was embedded in the base rate sheet price. The new methodology will cause a decrease in base price, but the separate SRP schedule will allow for pricing with more precision. The SRP should be include when manually calculating pricing.
Correspondent Lending customers should contact their Account Executive for more details here!