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Mortgage Retirement Professor

Questions on Locking the Price of a Mortgage Loan
What Are the Most Important Questions About a Lender's Lock Policies That a Borrower Should Ask the Lender?

Why Is Locking Unique to Mortgages? Why Does the Locking Process Impede Effective Shopping?
In Deciding When to Lock, Should You Attempt to Forecast the Direction of Interest Rates? What Is the General Case For Delaying the Lock? What Is the Case Against? Why Is it Safer to Delay a Lock on a Refinance Than on a Purchase?
How Can an Unscrupulous Mortgage Broker Charge You for a Rate Lock and Not Provide it? What Can You Do to Protect Yourself?
Does it Make Any Sense to Lock the Rate But Not the Points?
When the Paperwork Required to Close Within the Lock Period Hasn't Been Completed, Under What Circumstances Might the Lender Extend the Lock? What Is the Borrower's Responsibility in Getting to the Closing Table Within the Lock Period?
What Does it Mean to Allow the Rate to "Float"? What Is the Danger in Allowing the Rate to Float? Why Is it More Dangerous to Float When Purchasing a House Than When Refinancing? Why Is it Particularly Dangerous to Float When Purchasing a House During a Refinancing Boom? If Your Have Already Elected to Float, What Can You Do to Protect Yourself?
What is a Float-Down, and How Does it Differ From a Lock? How Do Some Borrowers Get a Float-Down Without Paying For it? Why Does This "Lock-Jumping" Hurt Other Borrowers? How Could Lenders Eliminate Lock-Jumping?
How Does a Borrower Protect Himself Against Losing a Lock?
Is a Borrower Committed Under a Lock?
What Is "Lock Failure"? Why did Lock Failures Increase in Late 2003? Why Are Mortgage Locks Unreliable? Is a Borrower Safer Dealing With a Broker or a Lender? Is There Any Recourse for Failed Locks? Can Failed Locks Be Prevented?
Exactly What Characteristics of an FRM and an ARM Are Covered by a Lock?
Should You Be Put Off by a Required Lock Deposit?
What Is the Proper Role of a Mortgage Broker In the Locking Process?
What Questions Should a Borrower Ask a Lender About the Lender's Lock Policies?
Is It a Good Idea For a Borrower to Lock the Loan ASAP?
Why Did Locking Become Much More Difficult After the Financial Crisis, and How Can Borrowers Protect Themselves?
How Would a Lender Committed to Full Disclosure and Transparency Disclose Its Locking Policies?
Can You Time a Lock to Your Advantage?

How Can Borrowers Protect Themselves When They Must Select a Lender Before Knowing the Price?
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