What does SRP stand for?

This is just an example: * $125,000 loan amount/sales price (both the same) * Interest rate: 6 percent, 30-year fixed * Origination fee: 1 percent of loan amount ($1,250) * Pricing and service release premium (SRP) rebates based on a free 30-day lock Pricing rebates from Chase Manhattan's Whole-sale Division and others that purchase the Rural Housing Guaranteed Loan product are attractive, and can make up much more of your income just on a single loan.

Thomas Swartz, CAIT's Chairman and Chief Executive Officer explained that CAIT's reduced revenues and earnings in the fourth quarter were due to a number of factors which included the tightening of interest rate spreads due to lower rates on new mortgage loans and increased short term borrowing costs, reduced service release premiums from lower secondary mortgage market sales and impairment and disposal costs to Capital Alliance Funding Corporation ("CAFC"), CAIT's taxable mortgage banking subsidiary.

Oftentimes, the highest service release premiums (SRP) are paid for block sales due to the volume efficiencies of the buyers, and the seller's willingness to assume all the risk.

Service Conditions and rules can be defined and managed that release calculate the service release premium (SRP) for any premiums loan product.