Submitting a Change of Circumstance

The Process

Any time after submitting your loan, you may need to request a Change of Circumstance. A Change of Circumstance should be submitted for any of the following:

  • Out of Tolerance APR Changes (i.e. Program Change, Interest Rate Change, etc.)
  • Loan Program Changes (i.e. Fixed to ARM, Loan Term Change, etc.)
  • Loan Amount Changes

IMPORTANT: After registration, you will only be able to adjust the Rate Lock Period and Impounds. To learn more, read Locking Your Loan.

Upload Change of Circumstance Documents

You will need to upload the updated 1003 and the completed Change of Circumstance form under the Broker Upload folder as Doc Type, Broker – Change of Circumstance. You can find our Change of Circumstance form HERE.

To learn more about uploading, please read Uploading your Loan Docs.

Request Change of Circumstance Review after Submission

When all documents have been uploaded, there are two options for requesting change of circumstance review, so choose either Option A or Option B listed below based on priority. You will only need to complete one of these options.

Option A: Process Change of Circumstance During Condition Review

A low priority Change of Circumstance can be submitted with your conditions.

Click on the Submit to Condition Review button on the Conditions tab and confirm your condition review request.

Alternatively, you can also request condition review by resolving the task, Submit: Underwriting Conditions Ready for Review on the Tasks tab.

To learn more, please read Resolving Tasks.

Option B: Process Change of Circumstance Immediately

For a high priority Change of Circumstance, contact your Account Manager immediately. Their contact information is listed under Junior Processor in the Status and Agents tab.

To lock under the new loan terms same day, you will need to contact the Lock Desk by email at lockdesk@jmaclending.com.

Change of Circumstance after Clear to Close

Once your loan is Clear to Close, contact your Account Manager immediately for any Change of Circumstance. Their contact information is listed under Junior Processor in the Status and Agents tab.

What’s Next

Change of Circumstance after Submission

If submitted with your condition package, the loan status will be updated to Condition Review. Your underwriter will review the change of circumstance and conditions within the current turn times.

If contacting your Account Manager, they will review the Change of Circumstance provided and notify the Underwriter and Lock Desk (if applicable). They will contact the Loan Officer and Processor regarding any issues.

Once underwriting review is completed, an updated loan approval or loan suspense certificate will be emailed and your loan status will revert to Approved or Loan Suspended if any PTD conditions remain. Repeat the above step if any additional Change of Circumstance is required.

Change of Circumstance after Initial Closing Disclosure

After initial closing disclosures, an updated closing disclosure will be reissued and a 3-day waiting period will be required before Loan Docs in these circumstances:

  1. The disclosed APR exceeds .125% of the most recently disclosed CD.
  2. The loan product changes.
  3. A prepayment penalty is added.

IMPORTANT: If the borrowers do not consent electronically, there is a 6-day waiting period required before Loan Docs.

Change of Circumstance after Clear to Close

Once your loan is Clear to Close, your Account Manager will review the Change of Circumstance provided and notify the Underwriter and Lock Desk (if applicable). They will contact the Loan Officer and Processor regarding any issues.

Once underwriting review is completed, an updated loan approval or loan suspense certificate will be emailed.

Have more questions? Submit a request