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August 26
Keeping Bank Secrets: Things you Can Go to Jail for Telling;
Mary Beth Guard

September 8
Checkup for your RDC Program;
Susan Orr

September 10
Critical Issues on Certificates of Deposit;
Deborah Crawford

September 16
S.A.F.E. Act - Auditing for Compliance;
Patricia Cashman

September 22
FinCEN's Beneficial Owners Proposal: What It Can Mean for You;
Sonja Kriegsmann and John Burnett

September 23
Bankruptcy 101;
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#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.
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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: 14170
^^^ditto. The borrower should not have to pay for the LO's mistake.
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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: 13630
Loc: Cheeseheadland
Ditto on the ouch...
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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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