Posted by Vince/KS on 8/24/07 8:19pm
Msg #207590

Interest rates down - a problem to one

Had a closing tonight where the note was for 6.25%. That was among the best for the week, but the borrower had discussed a lower rate with the loan officer. Apparently the promise was for 6.0% with no points. And how about a heloc (no - it wasn't included either).

Called every possible number for lender with no success but did get the title company. They agreed that we should simply stop as all docs would have to be redone for this particular lender. The borrower was confident that he heard correctly.