Lock Feature definition
Lock Feature. An option available to a Mortgagor under a Mortgage Loan that permits the Mortgagor to convert either the entire outstanding balance due or any portion thereof to a fixed rate closed-end loan.
Examples of Lock Feature in a sentence
Panel Key Lock Feature 7117 - Integrated Expansion Unit 9242 - Base Power Supply 9520 - Base CD-ROM 9835 - (7) V.24 Enhanced 50 ft.