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



January 6, 2015
Business Accounts Documentation and Procedures with Beneficial Ownership
Deborah Crawford

January 6, 2015
FFIEC Cybersecurity Initiatives and Observations from the 2014 Assessments
Susan Orr

January 15, 2015
The ABC's of IRAs - The Basic Ingredients
Patrice Konarik

January 20, 2015
B & Z Appraisal Rules - Getting Them Right
Jack Holzknecht

January 21, 2015
HMDA Soup to Nuts
David Dickinson

January 22, 2015
Navigating the Treacherous Waters of IRA Rollovers, Transfers and Beneficiary Payouts
Patrice Konarik

January 28, 2015
Mortgage Life Cycle
Part I
David Dickinson and Jerod Moyer



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: 14387
^^^ditto. The borrower should not have to pay for the LO's mistake.
_________________________
Everyone is entitled to their own opinions, but not their own facts. - Daniel P. Moynihan

Top
#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: 13705
Loc: Cheeseheadland
Ditto on the ouch...
_________________________
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.

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