Rate Lock Verification
We confirm your locked rate in real time on the same trading systems the banks use, so you're not taking their number on faith.
An all-in locked rate bundles the index, the spread, and several fees, and those components can drift before the lock. We audit the number while it can still be fixed.
When you lock a rate with an agency or lender, the all-in number you commit to is built from several moving parts: the underlying index, the lender or servicer spread, guarantee and servicing fees, and any buy-up or buy-down you've elected. Between application and lock, those components can drift, and on a large loan balance, a few basis points is real money. Most borrowers have no independent way to confirm the rate they were promised is the rate they actually got.
Rate Lock Verification closes that gap. We independently audit the locked rate against the original quote and the market on the lock date, then break the all-in number into its components so any unexplained movement is immediately visible. It's a small step that guards against an expensive and easily missed error, one that's effectively impossible to undo once the lock is signed.
Pensford helped teach me how to monitor the economic data releases to better forecast where prices were going, and when to take advantage of the market.
Think of it as a second set of eyes on the most important number in your financing, delivered by someone whose only interest is making sure it's right.