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#2154965 - 11/27/17 11:43 PM Rate Expired-LE
Bec Offline
Diamond Poster
Joined: Jul 2010
Posts: 1,114
The Great White North
The rate has expired on one of our loans. The rate that we would give the borrower now is much lower than the stated rate on the previously locked LE. Do we redisclose the LE? Do we start a new app? We typically do not lock rates on construction loans, this is an application from a bank that we recently acquired. Is it ok to go from a locked LE to an unlocked CD?
Go Packers

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Lending Compliance
#2154967 - 11/27/17 11:58 PM Re: Rate Expired-LE Bec
rlcarey Online
10K Club
Joined: Jul 2001
Posts: 79,912
Galveston, TX
Unless the fees changed, there should be no problem.
The opinions expressed here should not be construed to be those of my employer:

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#2154972 - 11/28/17 04:20 AM Re: Rate Expired-LE Bec
Darth HMDA, CRCM, CAMS Offline
Diamond Poster
Joined: Dec 2013
Posts: 1,387
Agreed - there is no additional cost so there is not an issue (IMO).
The opinions expressed are mine, do not represent the opinions of my employer, and they are not to be taken as legal advice.

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