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Provide Another GFE?
Answer by Dan Persfull, BOL Guru
Guru Bios
Question: When you receive a loan from a mortgage broker, and they have already given a good faith, is it necessary for the bank to provide another one?
Answer: An exerpt from 3500.7(b):
... As long as the mortgage broker has provided the good faith estimate, the funding lender is not required to provide an additional good faith estimate, but the funding lender is responsible for...
First published on BankersOnline.com 4/21/08
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