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In the past year, we’ve still seen a few companies allow their loan officers to lock directly with investors. Investors today allow their correspondent customers to manage secondary market activities and margins from their web sites. We believe this is a dangerous process that can lead to revenue leakage and poor pull through with investors not to mention product guideline violations and a higher chance of loan repurchase demands. All of these can be costly to an operation. ...

Most mortgage bankers don’t want to talk about or deal with investor loan repurchase requests, but they are not going to miraculously disappear through define intervention. If you receive one, develop a strategy to work with the investor in a comprising way and settle in a way that allows you to continue to have a business relationship with them....