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#1666938 - 02/17/12 03:55 PM Loan Amount Decreased After GFE
HR Banker Offline
Diamond Poster
Joined: Oct 2002
Posts: 1,027
Some time after early docs were done the customer wanted to decrease the loan amount applied for. Since this will not increase his settlement costs is there a need to do anything? I realize we may provide a new GFE but as long as using the original won't lead to any tolerance violations, is it necessary?

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Lending Compliance
#1666961 - 02/17/12 04:22 PM Re: Loan Amount Decreased After GFE HR Banker
RaesPlace Offline
100 Club
Joined: Mar 2011
Posts: 230
No. The only time you HAVE to redisclose is for a rate lock. Check your TIL though. You may have to redisclose that one.

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