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#1622644 - 11/01/11 03:27 PM Interest Rate Lock/Float Agreement required
2old2care Offline
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Joined: Oct 2006
Posts: 712
PA
Is the Interest Rate Lock/Float Agreement required under any regulation?

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Lending Compliance
#1623649 - 11/02/11 07:16 PM Re: Interest Rate Lock/Float Agreement required 2old2care
Truffle Royale Offline

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No

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#1623787 - 11/02/11 09:43 PM Re: Interest Rate Lock/Float Agreement required Truffle Royale
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Posts: 185
FYI, most secondary market lenders require the form be signed to verify the accuracy of the Important Dates section of the GFE.

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#1623798 - 11/02/11 10:10 PM Re: Interest Rate Lock/Float Agreement required RulesFollower
Truffle Royale Offline

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None of mine do.
We just have a copy of the rate lock in the file.

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#1623864 - 11/03/11 12:53 PM Re: Interest Rate Lock/Float Agreement required Truffle Royale
Dan Persfull Offline
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Dan Persfull
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Posts: 47,642
Bloomington, IN
Originally Posted By: Truffle Royale
None of mine do.
We just have a copy of the rate lock in the file.


Same here.
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The opinions expressed are mine and they are not to be taken as legal advice.

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#1623901 - 11/03/11 02:08 PM Re: Interest Rate Lock/Float Agreement required Dan Persfull
#Just Jay Offline
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#Just Jay
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Cheeseheadland
Ditto.
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#1623926 - 11/03/11 02:43 PM Re: Interest Rate Lock/Float Agreement required #Just Jay
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Posts: 185
....I do live in an "overkill" environment but seriously, the lock agreement with the customer is acually a required document on the Funding Checklist with most or our investors.

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