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#2054416 - 12/16/15 04:12 PM Revised LE for rate extension
dwedding Offline
100 Club
Joined: Apr 2003
Posts: 122
Under new TRID rules would a revised LE be required for a rate lock extension that does not affect the rate? Preparing the CloD and realized the rate expiration on the LE is off by one day. Listed the rate good through 12/22/15 and closing is 12/23/15. The rate will not change and no additional fees for the borrower, but concerned that an LE is required.

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TRID - TILA/RESPA Integrated Disclosures Rule
#2054442 - 12/16/15 05:10 PM Re: Revised LE for rate extension dwedding
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 79,625
Galveston, TX
Are you just going to give them the rate or are you executing an actual rate lock extension??
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#2054451 - 12/16/15 05:30 PM Re: Revised LE for rate extension dwedding
dwedding Offline
100 Club
Joined: Apr 2003
Posts: 122
We will be giving them the rate, we do not need to execute an extension.

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#2054457 - 12/16/15 05:40 PM Re: Revised LE for rate extension dwedding
Truffle Royale Offline

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Joined: Jul 2003
Posts: 17,348
Similar discussion in this thread.

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#2054559 - 12/16/15 09:24 PM Re: Revised LE for rate extension dwedding
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 39,684
Cape Cod
There's no need to extend the rate lock if you are planning on honoring the rate. Therefore there is no concern about a revised LE. Get that CloD issued if you want to close on time.
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