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December 3, 2014
Overdrafts: Latest Regulatory Feedback, Guidance & Best Practices Webinar
David Dickinson and Jerod Moyer

December 4, 2014
Freebies, Bonuses and Contests
John Burnett and Andy Zavoina

December 9, 2014
Bankruptcy: Creditor Do's and Don'ts
Sam Ott

December 10, 2014
Branch Audits: What Is Going On Out There?
Patricia Cashman

December 17, 2014
Integrated Disclosures - An Implementation Strategy
Mary Beth Guard and Jack Holzknecht

December 18, 2014
Loan Review Best Practices for a Community Bank
Bob Fritzlan

December 19, 2014
PREPAID PRODUCTS - Understanding the CFPB Proposal
John Burnett



Topic Options
#1668427 - 02/22/12 03:08 PM Re-issued GFE- missing rate charge
tank Offline
New Poster

Registered: 02/22/12
Posts: 10
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.

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RESPA
#1668435 - 02/22/12 03:01 PM Re: Re-issued GFE- missing rate charge [Re: tank]
AFaquir Offline
Platinum Poster

Registered: 01/12/11
Posts: 763
Loc: Top of the world... and never ...
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.
_________________________
In life, there is a lot less that could get better and a lot more that could get worse.

MBA Fin/MBS HR

My views only!

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#1668440 - 02/22/12 03:07 PM Re: Re-issued GFE- missing rate charge [Re: tank]
Truffle Royale Offline

10K Club

Registered: 07/09/03
Posts: 14359
^^^ditto. The borrower should not have to pay for the LO's mistake.
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Your life is an occasion. Rise to it! Suzanne Weyn

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#1668441 - 02/22/12 03:07 PM Re: Re-issued GFE- missing rate charge [Re: tank]
#Just Jay Offline
10K Club

Registered: 10/26/06
Posts: 13688
Loc: Cheeseheadland
Ditto on the ouch...
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No, I do not need to walk a mile in your shoes. I can see that you are a train wreck from all the way over here.

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#1669726 - 02/24/12 04:01 PM Re: Re-issued GFE- missing rate charge [Re: tank]
tank Offline
New Poster

Registered: 02/22/12
Posts: 10
Thanks for the help.

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