Correspondent Blog
Tag: Forward Starting Loans
02/12/22
Rate Locks – When and How To Lock a Borrower’s Loan Rate
In a recent blog [Here], we argued that banks are almost always in an inferior position by not re-quoting the loan rate with market movement until the loan closes. We think that when banks book a fixed-rate loan, the fixed-rate must be finalized at the closing table; otherwise, banks give borrowers a free option that…