Effective on April 1st, Non‑QM loans no longer need to be underwritten or approved in order to be locked.
Moving forward: Any Non‑QM loan may be locked at any point, regardless of underwriting status.
If a file is pre‑underwritten, the lock term must be a minimum of 30 days.
Full underwriting approval may occur after lock, in accordance with program and investor guidelines.
This change is intended to provide additional flexibility to the sales teams, reduce friction in the lock process, and improve overall efficiency while maintaining appropriate underwriting control.