Registering with Flexible Terms

Flexible Term Process

JMAC allows flexible terms for refinance loans looking to lower the payment without resetting back to a 30-year or 15-year term. Flexible terms are only offered on Conforming and High Balance programs, excluding specialty programs such as HomeReady, HomePossible, Homeone, and Jumbo. 

The standard programs will stay at their regular terms (30, 25, 20, 15, and 10 years) if the client does not want to choose a flexible term.

The following four additional program groups and derivatives have been created:

  • JMAC 241-359 MONTHS FIXED (offers to Conforming and High Balance)
  • JMAC 181-239 MONTHS FIXED (offers to Conforming)
  • JMAC 121-179 MONTHS FIXED (offers to Conforming and High Balance)
  • JMAC 96-119 MONTHS FIXED (offers to Conforming)

In order to access these odd months amortization through the Quick Pricer, the “other” option has to be checked under the amortization term.  

The system will default the term to the highest months in each program group, i.e. 241-359 will default to 359/359.

Registration Process

After you have registered the borrower in the flexible term program, you can add comments int he "Note" section to specify the exact term. This happens when the system prompts you to confirm the registration of the program. Refer to Exhibit A.

In order to disclose the correct flexible term on the initial disclosure, you can send a request via email to or your account manager. If there is no request made, then the loan will be disclosed on the highest months for the program group. 

Pre-Lock & Lock Requests

Ensure to add a comment in the note section of the lock confirmation to specify the term.  The lock desk will refer to the note section to lock on the correct term.

Exhibit A

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