4) Q: If the interest rate is locked at the time the GFE is issued, how should the loan originator complete Lines 1, 3, and 4 in the Important dates section on the GFE?
A: When the interest rate is locked before the GFE is issued, the information in Line 1 in the Important dates section on the GFE must be completed by disclosing the date that the interest rate lock will expire, Line 3 must be completed to state the number of days the interest rate lock period is good through, and Line 4 must be completed with N/A.
6) Q: If a lender does not offer a rate lock, how should Lines 3 and 4 in the Important dates section on the GFE be completed?
A: If the lender does not offer a rate lock, then Lines 3 and 4 of the Important dates section should state Not Available or NA.
These are 2 FAQ's that reference if you do or do not lock the loan and each states that #4 can be completed with "N/A".... what date are you inserting in line #4?
Last edited by RulesFollower; 02/07/12 05:39 PM.