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 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 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; s. 55, ch. 2009-241.
Section: Previous 494.00612 494.0063 494.0066 494.00665 494.0067 494.0069 494.007 494.0071 494.00721 494.0073 494.0074 494.0075 494.0076 494.0077 NextLast modified: September 23, 2016