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#41851 - 11/08/02 07:26 PM arm loan - prime rate changes
OnTheEdge Offline
Diamond Poster
Joined: Apr 2002
Posts: 1,677
SmallTown, USA
We've quoted actual rates to some folks earlier in the week before prime changed. The loan documents were created reflecting the original rate quoted. Loan closes today after prime has changed. We don't make any changes to the loan docs. Do we get any "grace" period when rates change and we've already provided rates, margins and so forth to customer?
The opinions expressed are mine and do not necessarily reflect those of my employer.

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#41852 - 11/08/02 07:38 PM Re: arm loan - prime rate changes
Richard Insley Online
10K Club
Richard Insley
Joined: Oct 2000
Posts: 10,148
Toano, VA
You'll have to be more specific about the product, how it's priced, which docs you're questioning, etc.
...gone fishing.

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