The new mortgage disclosure rules effective October 3rd could lead to an extension in rate locks and the time allowed for loan closings.  Closings typically take 30 days but the new TILA and RESPA integrated disclosure form includes strict requirements on the accuracy and timing of the disclosures that may require to extend closing dates by as many as 15 days.

Longer closing dates will require longer rate locks.  Longer rate lock will almost certainly mean higher fees for borrowers.

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