Asking lender for interest rate adjustment

[Jason H.]

Hi there BP...

I did a search on this topic but could not find any past posts on this. 

Has anyone called up their lender/bank and asked for an interest rate adjustment on a conventional residential loan (agency debt)?  I've heard of fellow investors doing this with their commercial loans with prepaid interest penalties, but I'm not sure if these could be done on conventional loans without refinancing.

If anyone has done this, would be interested in hearing about how you did it and what penalties/fees were involved.

Thanks!