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Mortgage Interest Rate Lock-Ins
Complaints

 

If your mortgage interest rate lock-in expires, and you believe that it was due to delays caused by the lender or someone else involved in the loan process, you should first try to reach a mutually satisfactory agreement with the lender. If that effort fails, consider writing to the appropriate state or federal enforcement or regulatory agency.

Some lender actions are improper (and may even be illegal), such as offering rate lock terms which are impossible to fulfill, failing to process your loan diligently, or causing your rate lock to expire. Because you may have contractual rights under your lock-in or loan commitment, you may want to consult with an attorney. Be aware, though, that complaints may not be resolved as quickly as may be necessary for a home purchase.

Depending upon their authority under applicable state or federal law, regulators may either attempt to help you resolve your complaint directly or record your complaint and recommend other action.

To identify the appropriate regulatory agency, see our guide:

Mortgage and Lender Complaints: Federal and State Regulatory Agencies

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