While the Seller was perfectly willing to sign the Grant Deed, the Seller was unwilling to sign the paper because the Seller could not see that it was a Grant Deed. The closing was delayed ten days until the person could be found. Fortunately, because I locked in the rate for 45 days, instead of thirty, the Home Buyers retained their lower rate. It is important to know what can happen if rates go down after starting the loan process. Some specialty loans do not allow the rate to go down after lock.
Some lenders offer extremely good terms to lure customers in.
They will actually deliver on these promises, but only to a select few. They don't expect to make any money on these loans and only offer them to bring in the majority of their profitable business. The lender will attempt to switch those consumers that are not perfect into financing programs where they will make money. The idea is similar to a supermarket offering free turkeys at Thanksgiving to shoppers. They don't make any money on the turkey and make up for it with the fixings.