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Executing an Over-Delivery for a Mandatory Commitment

Managing Commitments Overview

The Pricing & Execution – Whole Loan® (PE – Whole Loan) application allows you to manage the circumstances surrounding your mandatory and best efforts commitments. This job aid provides information on executing an over-delivery for your mandatory commitments. For more information on managing mandatory commitments, see the Executing a Pair-Off for a Mandatory Commitment  job aid, and Executing an Extension for a Mandatory Commitment job aid.

For information on managing your best efforts commitments, see the Executing an Extension for a Best Efforts Commitment job aid, the  Modifying a Best Efforts Commitment job aid, the Moving a Best Efforts Commitment to Fallout job aid, and the Executing a Pair-Off for Best Efforts Commitments job aid.

Introduction

Certain circumstances may require that you deliver more than the maximum delivery amount as dictated by the commitment’s high tolerance. The maximum over-delivery amount is 25 percent of the original commitment amount, up to a maximum of the one-unit, single-family loan limit. The difference between the whole loan prices at the time of commitment and at the time of over-delivery determine if an over-delivery fee will be due. After an over-delivery occurs, the high tolerance level decreases to $50 above the new commitment amount.

Steps for Executing an Over-Delivery for a Mandatory Commitment

Follow the steps to execute an over-delivery of a mandatory commitment:

  1. Enter the Commitment ID in the Basic Search box to the left of the screen and click the Search icon.

    Note: Other ways to search for a commitment include selecting any relevant commitment pipeline views in the function menu to the left of the screen, and by using the Advanced Search option. For more information, see the Viewing Your Commitment Pipelines Overview and Searching Commitments job aids.



    When Commitment ID is found, the Commitment Details window will open directly.

  2. Click Over-Delivery at the top of the window.

  3. Enter the desired over-delivery amount in the Over-Delivery Amount field. The minimum and maximum amounts available for over-delivery will appear next to the field.


  4. Click Calculate Fee. The Confirm Over-Delivery window opens. It summarizes the terms of the over-delivery, as well as the over-delivery fee, if applicable.

  5. Review the terms of the over-delivery. If you accept the terms, click Accept. An Over-Delivery Summary window opens.

    If you click Reject, you return to the Commitment Details window.

  1. Note: You have 60 seconds to verify the over-delivery amount and accept the over-delivery fee. If you run out of time, you return to the Commitment Details window. A dialog box will inform you that time has expired and that you can resubmit your request.

 

Whether you Accept, Reject, or the 60 second timer expires, each action will be recorded in the Commitment Activity history. All fees accepted will also be accessible in the Fees report view. For more information, see the Viewing Mandatory Commitment Details and Monitoring Commitment-Related Fees job aids.

After the terms of the over-delivery have been accepted, the Over-Delivery Summary window appears with details about the over-delivery.

  1. Click the Print icon on the top-right of the screen to print, if desired.

    The PE – Whole Loan application also automatically generates an email confirmation of your transaction. An email confirmation will only be sent if an email address has been added to your contact information. For more information, see the Setting Up Your Contact Preferences job aid.