Mortgage Lending · Secondary Marketing & Investor Relations
Best efforts and mandatory delivery guides
A reference guide explaining how a lender commits loans for sale to investors, either best efforts or mandatory, and the rules for each.
What it usually contains
- Definitions and comparison of best efforts, mandatory, and bulk or bifurcated commitment types
- Lock and commitment terms, expiration dates, and extension or relock fees
- Pair-off, non-delivery, and pricing adjustment penalties on mandatory trades
- Delivery deadlines, file and data submission steps, and funding timelines
- Eligibility limits, pull-through expectations, and hedge or coverage requirements
What the assistant uses it for
Answering how a loan should be committed and delivered under each execution type, and what fees or penalties apply if it does not fund or is delivered late.
How it is versioned
A document of this type has exactly one current version at a time. Upload a revision and it becomes the version that counts — the one before it is kept and dated, but is no longer what your assistant answers from. Nothing is ever deleted, so you can always show what this document said on a given date.
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