The Florida Senate

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.