Mandatory Delivery Lock Tolerances for MPF Xtra
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.