Lenders who offer Rate Relock?

[Pradeepan V.]

Hi

I work with Third federal and they have an amazing feature of rate relock( which is not refinancing) in that they basically you can request for rate to be changed(when it drops) but paying $295( or lower when they have promotion) - this way we dont end up paying high closings associated with refinancing. They also remortize the loan so the period doesnt start again but continue( kind of restructuring the loan). This really helps as you can keep reducing the rates as and when it goes down so even though its ARM you get to enjoy lower rates (perhaps forever)..

I was wondering if there are any other similar lenders who offer this type of feature.  I would love to work with Third federal again but looks like they cannot help those who has more than 4 loans( and I have 5 :( ) .