Priced off the sheet dated 21 August 2026. This version leads with the single loan on this list that needs no leap of faith, then the ladder that does not depend on the rest being exactly right, then the pipeline of loans still pending independent verification.
Balance $436,692. Current rate 7.625%, rendered to the eighth rather than rounded to 7.63%, because it sits exactly on the eighth-point grid, it is county-sourced, and the independent model estimate agrees with it to the hundredth of a point. Three separate reasons to trust one number.
Lender Union Home Mortgage Corp, originated 22 July 2024. No junior liens, so no subordination question. The funding fee was financed on the original purchase, so this prices on the standard column with no reliance on any exemption inference: a $423,530 original VA loan against a $410,000 purchase price.
| New rate | Drop | Fee financed | Monthly saving | Break-even | Shortage | LO comp |
|---|---|---|---|---|---|---|
| 6.875%, no-cost structure | 0.755% | $2,183 | $209 | 10.4 mo | $3,771 | $4,367 |
This is the example because it is the single borrower on the priced list whose rate is county-sourced, on the eighth grid, corroborated by the independent estimate, and free of any junior lien. It is what the ask looks like when nothing has to be taken on trust.
All four concession caps, so the point past which this stops paying for itself is on the page rather than left off it.
| Cap, points of loan amount | Writable | Volume | LO comp | Shortage | Shortage, bps of volume | Need full cap | Extra loans | Cost per extra loan |
|---|---|---|---|---|---|---|---|---|
| 0.50 current authority | 251 | $103.0M | $1,029,774 | $455,693 | 44.3 bps | 28 | n/a | n/a |
| 0.75 | 523 | $217.1M | $2,171,218 | $1,509,959 | 69.5 bps | 111 | 272 | $3,876 |
| 1.00 ask | 824 | $319.6M | $3,195,808 | $2,945,090 | 92.2 bps | 147 | 301 | $4,768 |
| 1.25 | 1,093 | $412.5M | $4,124,792 | $4,670,367 | 113.2 bps | 134 | 269 | $6,414 |
Shortage is the cost of the concession itself, at that cap, for the whole writable book. "Need full cap" is loans that require the maximum rate at that cap to clear. "Extra loans" and "cost per extra loan" are the loans and per-loan cost added by moving up from the prior row.
Under the stress test, applying the band-specific overstatement to every model-estimate row and not just the no-brainers, the writable book at the 1.00 cap falls from 824 loans to 483, and volume falls from $319.6M to $188.7M. That is a real drop, and this page is not going to soften it: the expanded book is concentrated in the 7.00-7.24 and 6.875-6.99 bands, where a tenth of a point decides whether a deal exists at all, so the writable count falls 41% under stress.
The point that survives is the stronger one. Even fully stressed, 483 writable loans carrying $188.7M and $1,886,573 of LO comp is a materially bigger book than the 138 loans this ask was originally built on. And the shortage holds steady either way, 92.2 bps of volume at face value versus 91.4 bps under full stress. The case does not rest on the estimates being right. It rests on the shortage ratio, which is stable under stress even though the loan count is not.
77 loans price as no-brainers today, $34.4M in volume, $344,239 in expected LO comp against $320,319 in shortage. Of those, 1 loan, the Mitchell loan above, is already verified. The other 76 rest on a model estimate and are pending independent verification.
A Homebot bulk import has been submitted for this list and will return an independent rate on every one of these loans. No borrower on this list is being called until that verification lands.
Why the caution: under the band-specific overstatement measured on same-lien pairs, model estimates run high by +0.510 points at 7.50% and above, +0.110 points at 7.00% to 7.49%, and +0.086 points at 6.50% to 6.99%. Applied to this list, that correction takes it from 77 no-brainers to 17, volume from $34.4M to $6.6M, and average monthly saving from $261 to $182. The pipeline is the part of this page most sensitive to rate accuracy, and that sensitivity is exactly why nobody on this list is being called until the Homebot import returns an independent rate. The ladder in section 2 is far less sensitive to this same correction, which is why it carries the argument and this list does not, yet.
Shown below: the top 25 of 77 loans by monthly saving. The full set totals $34.4M in volume, $344,239 in comp, and $320,319 in shortage; the 52 rows not shown by name are included in every one of those totals.
| Borrower | Location | Balance | Current rate | New rate | Drop | Monthly saving | Break-even | Shortage | Comp |
|---|---|---|---|---|---|---|---|---|---|
| Jaramillo Saenz; Francisco Rodriguez Zapata | Virginia Beach, VA | $686,371 | 7.760% | 6.575% | 1.185% | $550 | immediate† | $6,759 | $6,864 |
| Sandeep Naroo | Clarksville, TN | $690,029 | 7.760% | 6.575% | 1.185% | $531 | 6.5 mo | $6,774 | $6,900 |
| Michael J Wiles; Lydia Wiles | Chesapeake, VA | $652,856 | 7.790% | 6.625% | 1.165% | $494 | 6.6 mo | $6,050 | $6,529 |
| Guadalupe Teat; John David Teat | Colorado Springs, CO | $637,826 | 7.760% | 6.625% | 1.135% | $490 | immediate† | $5,998 | $6,378 |
| Gregory William Sc Boulet; Amanda Nicole Boulet | Colorado Springs, CO | $713,094 | 7.630% | 6.575% | 1.055% | $485 | 7.4 mo | $6,874 | $7,131 |
| Janice Cosca; Matthew Cosca | Virginia Beach, VA | $628,222 | 7.760% | 6.625% | 1.135% | $462 | 6.8 mo | $5,964 | $6,282 |
| Charles Roderick Henderlite; Agnes Henderlite | Colorado Springs, CO | $763,920 | 7.500% | 6.575% | 0.925% | $451 | 8.5 mo | $7,100 | $7,639 |
| Pamela Miller | Colorado Springs, CO | $600,832 | 7.760% | 6.625% | 1.135% | $442 | 6.8 mo | $5,865 | $6,008 |
| Karen Sue Withers | Peyton, CO | $626,888 | 7.630% | 6.625% | 1.005% | $405 | 7.7 mo | $5,959 | $6,269 |
| Ehibor F Adoghe; Emmanuella E Adoghe | Chesapeake, VA | $547,386 | 7.760% | 6.688% | 1.072% | $380 | 7.2 mo | $5,094 | $5,474 |
| Kevin Henry Danis; Rebecca A Danis | Peyton, CO | $510,750 | 7.790% | 6.688% | 1.102% | $365 | 7.0 mo | $5,007 | $5,108 |
| Benito E Davila; Lisa G Davila | Peyton, CO | $506,824 | 7.760% | 6.688% | 1.072% | $352 | 7.2 mo | $4,997 | $5,068 |
| Donald Decoy; Raquel Decoy | Peyton, CO | $498,392 | 7.760% | 6.688% | 1.072% | $346 | 7.2 mo | $4,977 | $4,984 |
| Nicholas J Dion; Sunmi H Dion | Colorado Springs, CO | $565,748 | 7.630% | 6.688% | 0.942% | $342 | 8.3 mo | $5,139 | $5,657 |
| Keith Hiatt | Clarksville, TN | $488,381 | 7.760% | 6.750% | 1.010% | $335 | immediate† | $4,450 | $4,884 |
| Raymond Bourne | Peyton, CO | $482,859 | 7.790% | 6.750% | 1.040% | $325 | 7.4 mo | $4,444 | $4,829 |
| Patrick Mccullough; Miriam Mccullough | Peyton, CO | $535,827 | 7.630% | 6.688% | 0.942% | $324 | 8.3 mo | $5,068 | $5,358 |
| John Tson; Laura S Stanson | Colorado Springs, CO | $494,486 | 7.760% | 6.750% | 1.010% | $323 | 7.7 mo | $4,455 | $4,945 |
| Devin Modert; Brittany Modert | Colorado Springs, CO | $492,277 | 7.760% | 6.750% | 1.010% | $321 | 7.7 mo | $4,453 | $4,923 |
| John Vazolte | Virginia Beach, VA | $488,381 | 7.760% | 6.750% | 1.010% | $319 | 7.7 mo | $4,450 | $4,884 |
| Herbert Lavon Young | Colorado Springs, CO | $579,686 | 7.490% | 6.625% | 0.865% | $319 | 9.1 mo | $5,793 | $5,797 |
| Kody D Presswood; Savannah L Presswood | Peyton, CO | $518,108 | 7.630% | 6.688% | 0.942% | $313 | 8.3 mo | $5,026 | $5,181 |
| Ryan Reavis; Sharon Reavis | Peyton, CO | $470,345 | 7.760% | 6.750% | 1.010% | $307 | 7.7 mo | $4,431 | $4,703 |
| Jennifer P Coletta | Virginia Beach, VA | $543,462 | 7.570% | 6.688% | 0.882% | $306 | 8.9 mo | $5,085 | $5,435 |
| Rowl Cox | Virginia Beach, VA | $500,000 | 7.570% | 6.688% | 0.882% | $298 | immediate† | $4,980 | $5,000 |
Current rate shown for every row is a model estimate unless tagged verified above. † funding fee appears not to have been financed, so break-even is immediate.
Names are kept on this table because it is a pipeline being worked, not because any row past the Mitchell loan is a confirmed number yet. A wall of hundreds of names is not an argument, which is why the list is capped at 25 rows here; the totals above cover all 77.
Every figure on this page above the 0.50 row of the ladder is priced at a 1.00 cap. That is the ask. Current granted authority is 0.50. Nothing on this page is approved pricing until you say so.
Why the book is bigger than the last version of this page: this is not a looser filter, it is the same filter over more contactable people. A skip-trace wave took the traced book from 598 rows to 3,498, and the callable book went from 473 to 2,642. We paid to skip trace every VA first lien at 6.5% and above in the licensed footprint, and we deliberately stopped the trace once it reached rate bands where nothing prices, so the spend tracked writable inventory rather than raw volume.
At the 1.00 cap, 824 loans are writable ($319.6M) for $3,195,808 in LO comp, against $2,945,090 in shortage. The average shortage at that cap is 92.2 bps of volume against 100 bps of LO comp. It clears LO comp, but barely.
Because of that, the question this page is actually asking is not whether 1.00 clears LO comp. It does, narrowly. The question is whether it clears division margin on a government loan, and we do not know the division's margin. We are not guessing at that number and not implying we know one. The shortage is stated in bps of volume above so it can be held against a margin only you can see.
Beyond 1.00, the economics invert. At 1.25 the shortage runs 113.2 bps of volume, which exceeds 100 bps of LO comp outright.
Internal pricing discussion, prepared by Patrick L Norman, CrossCountry Mortgage, LLC, NMLS #303097, for Daniel Jacobs. Not a rate quote, an advertisement, a commitment to lend, or a communication to any borrower or the public, and no APR is stated because none applies to an internal capacity analysis. Figures are drawn from the concession-cap model as of the pricing sheet dated 21 August 2026. Pricing moves daily, so re-run this before relying on it much past a few business days.
