When the loan amount you deliver falls within the allowable tolerances, you are considered meeting your mandatory delivery. The MPF Xtra tolerance is plus or minus by the greater of $10,000 or 2.5% of the original commitment amount, not to exceed the maximum loan amount limits for both conforming and high balance loans.
When a loan is delivered outside the allowable tolerances, any applicable fees will be calculated on the full amount the loan is under or over delivered. These fees could be a debit or credit based on bond market movement.
Example: A loan locked at $100,000.00 is delivered at $85,000.00. The pair-off fee will be calculated on $15,000.00, the full amount not delivered.