When it comes to TRID Loans, one area that continues to cause headaches is the rate lock section of the Loan Estimate. This section requires you to disclose if there is a rate lock and when it expires.
But it goes on to state, Before closing, your interest rate, points, and lender credits can change unless you lock the interest rate. All other estimated costs expire on [date] at [time]. That last sentence, All other estimated costs expire on…, might not seem like much but is comes with a lot of rules.
Click on the video to listen to Diane explain more.
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