We have a mortgage that is supposed to close Friday. Today is Wednesday. The mortgage staff just noticed that the GFE didn’t have a rate lock date input. There have been no changed circumstances or changes at all since the GFE was sent.
Would we still be able to close on Friday? What are the ramifications if it were to close on Friday?
The GFE contains an error, but that is unavoidable at this point. The safest course of action is to close on Friday using the rate disclosed on the GFE. If you intend to charge a higher rate then the burden to prove that you did not lock the rate is on you.