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#1450531 - 10/01/10 12:46 PM GFE- Property Address Changed
lucyc Offline
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lucyc
Joined: Jul 2007
Posts: 1,074
Application,GFE and Early TIL included a property address 123 Main St.

It was determined that the correct address was 456 Main St and the loan closed as such.

There was no changes in the fees or loan terms.

In my opinion a revised GFE and Early TIL are not required.

Is that correct?

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Lending Compliance
#1450657 - 10/01/10 03:40 PM Re: GFE- Property Address Changed lucyc
lucyc Offline
Diamond Poster
lucyc
Joined: Jul 2007
Posts: 1,074
bump

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#1450664 - 10/01/10 03:45 PM Re: GFE- Property Address Changed lucyc
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,532
Bloomington, IN
The only time you are mandated to issue a revised GFE is when the consumer exercises a rate lock option.
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The opinions expressed are mine and they are not to be taken as legal advice.

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#1450743 - 10/01/10 05:02 PM Re: GFE- Property Address Changed Dan Persfull
Pickles Offline
Gold Star
Joined: Apr 2006
Posts: 275
Beach Bum, East Coast, USA
What happens if two different pieces of collateral will secure a loan.. both homes are a 1-4 family residential dwelling... how do we prepare the GFE as far as the collateral address? Can we list both or must we prepare 2 disclosures representing each address
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#1450930 - 10/01/10 07:23 PM Re: GFE- Property Address Changed Pickles
lucyc Offline
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lucyc
Joined: Jul 2007
Posts: 1,074
Thanks.

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