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#2256620 - 07/13/21 04:50 PM Rate Lock Agreement
CMSIngenue Offline
100 Club
Joined: Jan 2013
Posts: 154
Does the MN Rate Lock Agreement need to be redisclosed to be signed by the borrower every time their is loan program change? For ex: Loan was submitted as a conventional loan and disclosed as locked as a conventional loan. But their is a COC for program change to FHA and the lock terms have changed. Does that require a new Minnesota Rate Lock Agreement?

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#2256621 - 07/13/21 05:08 PM Re: Rate Lock Agreement CMSIngenue
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,371
Galveston, TX
I am really unsure if the lock terms are changing, how you would not be required to disclose the new lock terms and other other required disclosures, if you are entering into a new one?
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