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#1507693 - 02/09/11 09:14 PM Changed Circumstance
Many Hats Offline
Platinum Poster
Joined: May 2008
Posts: 915
Orlando, FL
If an applicant decides to add another applicant to the loan midway int he process, wouldn't that require re-disclosure?

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#1508350 - 02/10/11 09:00 PM Re: Changed Circumstance Many Hats
jlroberts Offline
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jlroberts
Joined: Sep 2009
Posts: 1,563
Ohio
Yes - Borrower requested change

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#1508356 - 02/10/11 09:03 PM Re: Changed Circumstance jlroberts
Truffle Royale Offline

10K Club
Joined: Jul 2003
Posts: 17,285
No, it doesn't REQUIRE redisclosure. It is a valid changed circumstance but what is it changing? It has no effect on the fees so why would you redisclose? The only time redisclosure is REQUIRED is to lock a rate.

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#1508361 - 02/10/11 09:06 PM Re: Changed Circumstance Truffle Royale
#Just Jay Offline
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#Just Jay
Joined: Oct 2006
Posts: 14,389
Cheeseheadland
Additonal credit report fees, possible changes in title or filing fees as well.
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#1508763 - 02/11/11 03:35 PM Re: Changed Circumstance #Just Jay
Many Hats Offline
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Joined: May 2008
Posts: 915
Orlando, FL
That's what I was thinking...there may be changes in fees (though small), but even more so, doesn't the new co-borrower have the same right to the time frames involved (per MDIA, etc.)?

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