If the rate lock YES box is checked, there must be a time, time zone, and date to the right of it.
There is no cure for past sins here. Only retraining and other appropriate personnel actions going forward. Rates are trending upward, in case those other compliance colleagues haven't seen the news. If there is a signed rate lock agreement with the consumer in the file, the YES box is checked and the time and date it expires noted. It's a simple YES/NO rule, but apparently some people can't be bothered with it. Find a way to change their attitude.
Perhaps some retooling of the bank's procedural documents is in order.
Last edited by John Burnett; 05/04/22 08:27 PM.
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John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8