The Mortgage Lender’s Guide to Hedging, Fair Value, Market Value, and the IRLC

While interest rate lock commitment (IRLC) protects customers from market risk, it exposes the mortgage lender to that very same risk. Because of this, mortgage lenders need to have a firm understanding of how changing rates affect the IRLC and how to properly determine the fair value of the IRLC. Dr. Andy Schell, the Profit Doctor discusses the method of mortgage lenders issuing interest rate lock commitments (IRLC) to customers and more within this article.

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