A. Hours of Operation
Please call the National City Correspondent Lending Commitment Desk for loan registration,locks, extensions, re-locks and other changes or inquiries. Hours of operation are as follows:

B. Loan Registration / Lock Contact Information

Ratesheets, product guidelines, policies and contact information may also be found on our website at www.ncmexpress.com. Please contact your sales representative if you need assistance.

C. Registrations (Best Efforts)
Registrations are accepted via phone, fax, and online via EZ Connect. Fax requests must be received at least one hour prior to the close of business in order to receive that day's pricing.  All required information must be completed on the Registration Worksheet in order to receive price protection. If any pertinent information is missing, the correspondent will be contacted by fax or by phone to request the additional information. The loan will then be locked at the price that is in effect at the time of receipt of the missing information. If a correspondent has not received a confirmation within 24 hours, it is the correspondent's responsibility to contact the NCM Commitment Desk to request it. Price adjustments may occur throughout the day and it is the responsibility of the correspondent to keep informed of such changes via the Commitment Desk or the National City Correspondent Lending website (please see Contact Information). Price adjustments on the website can be found in the "Daily Rates" section under in the "Price Adjustments" folder.

D. Float to Locks
Please fax in a request or call the Commitment Desk from the issuance of the rate sheet until 5:00 pm ET to lock in pricing on a previously registered floating loan.

E. Delivery Requirements
It is the responsibility of the correspondent to deliver a loan in fundable condition on or before the Lock Expiration Date. If a loan cannot be delivered by the Lock Expiration Date, it is the responsibility of the correspondent to call and request an extension. Loans delivered after the Lock Expiration Date must be re-locked per the Re-lock Policy listed below.

F. Target Fund Dates
The Target Fund Date is the deadline for a loan to be purchased by National City Mortgage. Typically, this is 10 days after the Lock Expiration Date of the loan and is stated on the Lock Confirmation and the Suspense Notification. National City Mortgage recommends that files are delivered immediately following the closing or disbursement date to ensure timely purchase. If a file is delivered on the Lock Expiration Date, normal turn time will cut into the grace period.

Example: The Lock Expiration Date of a loan is April 10 and the Target Fund Date is April 20. If the loan is delivered on April 10 and the current turn time for review is 5 days, the correspondent has 5 days to clear any outstanding conditions in order for us to purchase the loan. If the loan is not cleared for purchase by April 20, the correspondent is then responsible for re-locking or extending that loan.

Accommodations will be made when turn times for review are such that the Target Fund Date would expire prior to National City Mortgage reviewing the file.

Outstanding conditions faxed or delivered to National City Mortgage on the Target Fund Date of the loan must be received in our offices no later than 1:00 PM EST for the loan to be purchased by the Target Fund Date. Loans that cannot be cleared for purchase by the Target Fund Date are the responsibility of the Correspondent to extend.

G. Extension Policy
The Correspondent must request an extension prior to the Lock Expiration Date for loans that have not yet been delivered, or prior to the Target Fund Date for loans that are in-house but not yet purchased. A loan is considered expired and must be re-locked worse case if:

• The Lock Expiration Date has passed and loan is not yet delivered.
• The Target Fund Date has passed and loan is not purchased.

The following extension fees will be assessed and deducted from the buy price. A new confirmation will be faxed to the correspondent reflecting the changes to the pricing, Lock Expiration Date and Target Funding Date.

For original lock periods of 15 to 45 Days, Correspondents will not be limited to the number of times they can extend a loan as long as the original lock period plus extensions do not exceed 90 days. If the remaining number of days in the 90 day period is not an increment listed above, the Correspondent will be charged the increment plus 1 basis point for each additional day needed. Should the loan be extended beyond the 90 day period, the Correspondent will be assessed worse case pricing for each extension thereafter.

For original lock periods of 60 days and greater, Correspondents will be able to extend the initial 60 day or greater lock up to 30 days. The Correspondent is not limited to the number of times they can extend a loan so long as the loan is not extended more than 30 days. Should the loan be extended beyond the 30 day extension period, the Correspondent will be assessed worse case pricing for each extension thereafter.

H. Re-lock Policy
Locks that have expired will be re-priced based on the original lock plus a roll charge or current market, whichever is worse. The new lock term must cover the number of days from the original Lock Expiration Date to the new Lock Expiration Date, regardless if the loan has been delivered or not.
Locks that have been expired for more than 40 days will be re-locked at current market, using the prevailing rate sheet.

During extremely volatile market conditions, our extension and re-lock policies may be revised.

***National City Mortgage reserves the right to cancel and return a file that has not been purchased for any reason in a reasonable time frame.***

I. Product Changes
If the loan product changes and the loan has not expired, the loan will receive the pricing from original lock date. If the original lock has expired and the product changes, the pricing will be determined by comparing the pricing of the new product on the original lock date plus the roll and the current market, whichever is worse.

If National City determines that a loan does not meet the guidelines of the product it has been submitted under, the program will be changed and pricing will be adjusted based on the price of that program on the original lock date.

J. Renegotiations
Pricing may be renegotiated if the Lock Expiration Date is within 30 days and current pricing is significantly better than the original pricing. Please contact the Commitment Desk to inquire about pricing. Loans may be renegotiated one time only. If you have any questions about this policy, please contact the Commitment Desk or your Sales Representative.