The overly ridiculous compliance rules that have been instituted in our industry over the last couple years make me think this might be the case.
In an attempt to “protect” the consumer the laws related to anything changing from initial disclosure have become so absurd that I’ve seen wholesale lenders have to eat rate lock fees in order to stay in compliance. This practice surely won’t last for long. This is just one example of how out of wack things have become in our industry in an attempt to prevent issues that took place in the past.