Our standard Tennessee Lock-In Agreement (Cx14675) is provided in all Tennessee Initial Disclosures with an existing rate lock, in order to satisfy Tenn. Comp. R. & Regs. 0180-17-.01, .04 & .05 of the Tennessee Residential Lending, Brokerage, and Servicing Act. Subsequent to a periodic review of this disclosure, we are adding this statement above the signatures: “The Lender requires that this lock-in Agreement is subject to these additional terms and conditions:” Following this statement we are including the field “Conditions Under Which Loan Terms May Change” (FI 40188). This change is to more closely comply specifically with Tenn. Comp. R. & Regs. 0180-17-.04(1)(f), which requires a place to disclose “[a]ny other terms and conditions of the lock-in agreement required by the mortgage lender.”
This change will be in effect on November 25, 2020. If you have any questions or concerns about this change, please contact Client Support at 1.800.497.3584.