Wholesale Lock Extension Policy

To extend a locked loan, an email needs to be sent to lockdesk@goldstarfinancial.com. The following policies only apply to loans locked under the Gold Star branded products.

Standard Extensions
All eligible Gold Star loans in valid lock status can extend under the following terms:

• A standard Fee-Based extension can be done at any time after the loan has been locked.
• Standard extension fees are .02% per calendar day
• There is no limit to the number of times a loan can be extended
• The standard fee for the extension will never change, regardless of the number of extensions done on the file.
• After 60 days of extension, Worst Case pricing will be applied. This resets at that time and will not be applied again until after a subsequent 60-day period beyond the new worst-case pricing expiration date.

Market-Based Extensions
Market-based extensions on Gold Star loans in valid lock status can extend under the following terms:

• A Market-Based extension can be done at any time after the loan has been locked.
• Eligibility for a Market- Based extension is based on current Gold Star pricing in comparison to the original locked Gold Star price of the loan
• A Market- Based extension is only available on a file that is pricing better on the current market than the original locked price.
• A Market-based extension, if available, will extend the loan 15 days from the date the extension is executed.
• If a Market-Based extension is done on a file, it can still be extended at standard extension costs.
• Up to 2 Market-Based extensions are allowed per file.
• If a loan is Renegotiated, that new lock period will be considered original day pricing for Market-based comparisons.