Common Contracts
2 similar Rate Lock Agreement contracts
Rate Lock Agreement 2Rate Lock Agreement • February 6th, 2024
A lock is an agreement between the borrower and Keystone Funding. It specifies the number of days for which a loan's interest rate is guaranteed. Locking in a rate and price does not guarantee eligibility or approval of the subject loan. Locks are non‐transferable and are tied to the subject property, not the borrower. Originators should make every effort to close all loans locked under original terms. It is also requested that Originators manage their locked pipelines and cancel any locked loan that has been withdrawn by the borrower immediately.
Rate Lock Agreement 2Rate Lock Agreement • April 18th, 2023
A lock is an agreement between the borrower and Keystone Funding. It specifies the number of days for which a loan's interest rate is guaranteed. Locking in a rate and price does not guarantee eligibility or approval of the subject loan. Locks are non‐transferable and are tied to the subject property, not the borrower. Originators should make every effort to close all loans locked under original terms. It is also requested that Originators manage their locked pipelines and cancel any locked loan that has been withdrawn by the borrower immediately.
