Applicant's rate lock agreement expires tomorrow. Last week, the applicant requested a rate lock extension due to the construction not being completed on time. Bank extends the rate lock with the investor for an additional 10 days; investor charges a fee. The bank is passing that fee to the borrower. Two questions:
1) Does the applicant need to sign a new rate lock agreement?
2) In what bucket would the rate lock extension fee be placed on the revised LE?