Thread: NEW.....mortgage requirements !

***Just received this on one of our sales****


**Due to new Government regulations, Wells Fargo is requesting that all
loan terms are finalized and the interest rate locked at least 10
business days before your closing. Your closing may be delayed if
changes are made to your loan terms or if there is a delay in getting
fees from your closing agent. Depending on the changes, we could be
required to re-disclose your Truth in Lending document. Any new
re-disclosure requires a 4-7 day period before closing can be
rescheduled.**

Originally Posted by randallg99

just another clause to get wells fargo to back out of a deal they don't like...

cat: isn't wells the largest lender in Cali? or it used to be the largest?

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or if there is a delay in getting
fees from your closing agent.

Any new re-disclosure requires a 4-7 day period before closing can be
rescheduled.**

These are the 2 new items that we have not seen before and YES, Wells is now the TOP lender for Florida property and prolly Cali and maybe the country!