Posted by mick on March 11, 2005 at 16:53:10:
If the rate was just on a Good faith estimate they provided to you “before” the rate was “locked in”, then yes, they can.
if you have a contract stating the terms and agreements with the rate “locked in”, then no they can’t - that is their error. But they are the bank regardless - they can make the decision to close the loan for you or not.
I’d be working with another bank by now personally b/c if this was a month ago and you were committed then the loan should be closed by now.