Re-issued GFE- missing rate charge

Posted By: tank

Re-issued GFE- missing rate charge - 02/22/12 08:08 PM

If the Loan Officer forgot to fill in the rate charge on the GFE(pg. 2, block A, #2), is it ok if the LO immediately re-issues a corrected GFE with the rate charge included?

Assume that both GFE's were given (In person) on the same day, and the LO had previously discussed the rate charge with borrower, but simply forgot to enter it on the initial GFE.
Posted By: AFaquir

Re: Re-issued GFE- missing rate charge - 02/22/12 08:01 PM

Ouch...

I'd say no... it isn't right and that you should live with the FIRST GFE given to the customer.

This is why even if the customer is right there in front of the originator we all but require them to hold the GFE disclosure until the next day so they don't rush and make ANY mistakes.
Posted By: Truffle Royale

Re: Re-issued GFE- missing rate charge - 02/22/12 08:07 PM

^^^ditto. The borrower should not have to pay for the LO's mistake.
Posted By: #Just Jay

Re: Re-issued GFE- missing rate charge - 02/22/12 08:07 PM

Ditto on the ouch...
Posted By: tank

Re: Re-issued GFE- missing rate charge - 02/24/12 09:01 PM

Thanks for the help.