Click to return to BOL home page
Banker Store Read A Reg BOL Insiders Career Connect Learning Connect Bankers Information Network



August 5, 2015
HMDA – Beyond the Input
Patricia Cashman

August 11, 2015
ABCs of HSAs
Whitney Johnson

August 12, 2015
Part I: Flood Insurance - Everything You Need To Know (including June 2015 Rules)
David Dickinson and Jerod Moyer

August 13, 2015
Currency Transaction Report (CTR): Line-By-Line for Tellers
Deborah Crawford

August 18, 2015
Disaster Recovery Revisited: 5 Things You May Not Have Considered (for a while)
David Reed

August 20, 2015
Automated Monitoring Systems: Implementation to Validation
Brian Crow

August 25, 2015
MasterCard & Reg E Error Resolution
Brian Crow



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.

Top
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!

Top
#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: 14923
^^^ditto. The borrower should not have to pay for the LO's mistake.

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

Registered: 10/26/06
Posts: 13850
Loc: Cheeseheadland
Ditto on the ouch...
_________________________
Well, I'm here now. What are your other two wishes?

Top
#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.

Top

Moderator:  QCL