Just got this from Novastar. I’m not thinking the pricing on the day docs are drawn thing is going work . . .
Due to fast moving shifts in the secondary market beyond our control, we can no longer honor pricing approvals in NovaStarIS for an extended period of time.
To avoid pricing adjustments on loans already approved in NovaStarIS but not yet funded, docs must be sent out by the end of the day on Wednesday, March 14th.
Beginning Thursday, March 15th, loans will be priced based on the current rate sheet when the docs are drawn.
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