Our attorney created a document that would allow a customer to lock in a mortgage rate for 45 days. This could be exercised anytime that the loan is in process. ALso offered is a one time option to relock the rate during that 45 days.
Are there any specific rules/regulations that would apply to such an offering and if so where would I locate that information.
Thank you

If it is governed anywhere, it would be in State law or through secondary market requirements.