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#1407705 - 06/24/10 05:08 PM Dislcosing Lender Credits
deh Offline
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Joined: Mar 2006
Posts: 866
I just need someone to agree with me on this. I know it has been discussed but I couldn't find the thread. If the lender decides to give a Lender Credit we don't have to re-disclose the GFE because it is causing the fees to go down. Right?

I have had issues with particular secondary market Investors who want us to reissue a GFE documenting the lenders credit, but that would be their policy and not necessarily a RESPA violation, right?
Last edited by deh; 06/24/10 05:09 PM.
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#1407716 - 06/24/10 05:21 PM Re: Dislcosing Lender Credits deh
West Coast Comp Offline
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West Coast Comp
Joined: Jun 2010
Posts: 350
Lost in the rain.
Many want to avoid a "pattern or practice" of giving lender credits that weren't disclosed. Thus the investor requirement.

But on an individual loan not a RESPA issue.
Where I go there I am. smile

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