Yes even though that should NEVER happen it certainly could if the loan officer was not paying attention to the lock expiration dates. I would definitely speak to the loan officer's supervisor but if the rate truly expired there may not be anything they can do. If it's a bank they may be able to be in a better position to assist as opposed to a mortgage broker. Please let us know how that all turns out and good luck.
Senior Loan Officer
1ST Mariner Mortgage
Lending in all 50 states
From my experience with 203k loans, the best advice is to use a lender that offers assistance via third party with 203k processing.
This shortens the closing time by weeks. Try http://www.cfs-mortgage.com/203k for more information.... more