The bank can go back on a loan anytime. They would just figure out some excuse.. Once the loan is funded and recorded that would be hard to do at that point. I have had a client who had the bank want to change the contract after the loan was funded and recorded. They did come to a compromise and re did the loan.
Ingrid Ski Realtor
You have a 3 day rescission period for your protection, however, my interpretation of the banks position is that they will never fund a loan if they feel there is an issue with the loan. They will try to resolve , however will never fund a loan that they know may not sell. Hope that helps