I have been performing a review of our pending mortgage applications and have found a few files where there has been a revised commitment letter issued (we issue our commitment letters with any necessary conditions after the borrower expresses intent to proceed and after the loan has gone through the underwriter. After reading the revised commitment letters, I am finding that the only change is new conditions being added to the letter, for example, a new letter stated we needed copies of bank statements showing sufficient funds to close. No change in loan amount, rate, etc. just additional conditions added. My first thought is we should have known about that condition before the first letter was issued. Does anyone have any thoughts on this? Can we do this, and if so, is it really a best practice?

Thank you for your help

Committment letters are governed under State real estate or contract law and you should be asking these questions of your legal counsel.

Ok, thank you.

Keeping Randy's advice in mind, we have had the occassion to give updated commitment letters when something we called for on the original triggers the need for something else either prior to or at the time of closing.