How can a borrower make a second application within 90 days of first one? (interest rate, credit)

[still_looking]

I understand that Pentagon Fed Credit Union does not allow one to make another mortgage application for same property within 90 days of the first one. Nevertheless, does anyone know how they enforce this? It is not clear how since you can submit applications online.

A borrower has an incentive to submit another application to lock in a lower interest rate (as all you lose in the application fee of less than $70).

Thanks.

[AndrewSoss]

Originally Posted by still_looking

I understand that Pentagon Fed Credit Union does not allow one to make another mortgage application for same property within 90 days of the first one. Nevertheless, does anyone know how they enforce this? It is not clear how since you can submit applications online.

A borrower has an incentive to submit another application to lock in a lower interest rate (as all you lose in the application fee of less than $70).

Thanks.

How do they enforce it?

It's online, so I'm sure it's pretty easy to flag an application that is within 90 days of a previous app.