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Mortgage Rate Guidelines

Mortgage Rate Guidelines


  1. Please use the attached form each week. Rates will not be accepted on other form types. Rates must be emailed in to DAR – services@durhamrealtors.org
  2. The deadline is 1:00 p.m. on Tuesday. No exceptions will be made. We must have received all rates by 1:00 p.m. to allow time to compile and send to the Herald-Sun. Holidays may alter deadline.
  3. Please advise your staff of our deadline, we will not have the time to give a reminder call if your rates are not received.
  4. Rates must be in decimal format (7.625, 8.75). Fraction format will not be accepted.
  5. Include on form the name of the person responsible for the rates.
  6. “Call for Quotes” is not an acceptable entry.
  7. Comment column is to be used for specific details on a product quoted.
  8. Conventional interest rate and points quotes should be for a minimum of 30 day rate lock based upon a loan amount of $100,000. FHA interest rates and point quotes should be for a minimum of 30-day rate lock based upon a loan amount of $100,000.
  9. Rates will be subject to random verification. Failure to report accurately will result in suspension from the rate quote listing.
  10. Lenders quoting rates through the Durham Association of REALTORS® must be members of the Triangle Mortgage Lenders Association and the Durham Regional Association of REALTORS®. To be a member of TMLA, you must actively maintain an office in Durham and/or Orange County or in a County bordering Durham and/or Orange county.
  11. Failure to report rates 3 consecutive times will result in the company’s name being removed from rate publication for a period of 3 weeks.
If you delegate this responsibility to someone in your office, please review these rules with them.         June 2003

 

Mortgage Rate Guidelines
Durham Association of REALTORS®
Effective April 3, 2001