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Are lenders required to provide rate lock confirmation?

i was talking to my lender and they said my rate was locked, but i never got any official documentation stating that the rate was actually locked. is email confirmation enough? by dannyjay2389128 from Selbyville, Delaware. Apr 21st 2015 Reply


Peter Green (pete@trustdynamic.com)
#21 ranked lender in Delaware - 2 contributions

something formal is always better but if you feel as though your lender is trustworthy then an email is fine. Additionally, once you make application the lender will send you formal disclosures. In that packet look at the "good faith estimate". On the top of page 1 it will tell you whether the rate is locked and for how long. If he told you it is locked and the good faith estimate states not locked then you may have a problem. If you are not sure that your lender is trustworthy then be sure to contact one who is. If you have any further questions don't hesitate to contact me directly. petegreen@atlanticbay.com

Apr 21st 2015
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Derick Condron (rightstartoregon)
#33 ranked lender in Oregon - 597 contributions

If they locked it after you had filled out the initial disclosures. They have 3 business days to redisclose the terms of the lock to you.

Apr 21st 2015
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,797 contributions

No.. they are not required, but if you request one, they should provide it.. additionally, you can request an updated GFE, which will show if your loan is locked or not.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Apr 21st 2015
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