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the Florida Statutes
2002 Florida Code
TITLE XXXIII REGULATION OF TRADE, COMMERCE, INVESTMENTS, AND SOLICITATIONS
Chapter 494 MORTGAGE BROKERAGE AND MORTGAGE LENDING
PART III MORTGAGE LENDERS (ss. 494.006-494.00797)
494.0071 Expiration of lock-in agreement or commitment.
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.
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