The appraisal came in lower than expected so the borrower had to pay a discount point in order to keep the interest rate he locked in August the same.
I'm curious. If the lock agreement had not expired does the contractual agreement between you and the consumer allow you to charge the additional fee under certain circumstances?
If not and if it was me you would be honoring the rate you agreed to lock in if the agreement had not expired or the closing was delayed through no fault of mine. It's not my fault you jumped the gun locking the rate.
The opinions expressed are mine and they are not to be taken as legal advice.