Legal Research Home > Florida Lawyer > Regulation Of Trade Commerce Investments and Solicitations > Florida Regulation Of Trade, Commerce, Investments, And Solicitations Code Section 494.0071 - Mortgage Brokerage And Mortgage Lending - Expiration of lock-in agreement or commitment.

Title XXXIII REGULATION OF TRADE, COMMERCE, INVESTMENTS, AND SOLICITATIONS

Chapter 494 MORTGAGE BROKERAGE AND MORTGAGE LENDING

494.0071 Expiration of lock-in agreement or commitment.--If a lock-in agreement has been executed and the loan does not close before the expiration date of either the lock-in agreement or any commitment issued consistent therewith through no substantial fault of the borrower, the borrower may withdraw the application or reject or terminate any commitment, whereupon the mortgage lender or correspondent mortgage lender shall promptly refund to the borrower any lock-in fee and any commitment fee paid by the borrower.

History.--ss. 42, 50, ch. 91-245; s. 4, ch. 91-429; s. 19, ch. 95-313.

Last modified: November 21, 2006