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#1542157 - 04/27/11 08:13 PM No Tolerance items - changed circumstance
ADN Offline
100 Club
Joined: Mar 2007
Posts: 222
I have a lender who is giving customers an updated GFE (and TIL) if the escrow or prepaid interest amounts increase or decrease after the original GFE and TIL. No tolerance items are altered. I understand these two fields are not subject to a tolerance, however I am unsure if we are allowed give a updated GFE based these circumstances. Any guidance is appreciated!

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RESPA
#1542168 - 04/27/11 08:20 PM Re: No Tolerance items - changed circumstance ADN
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,364
Galveston, TX
Those do not represent a CofC. The only time you are allowed to reissue a GFE is when a CofC or a rate lock occurs.
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#1542516 - 04/28/11 03:05 PM Re: No Tolerance items - changed circumstance rlcarey
David Dickinson Offline
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David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
Even if you had a changed circumstance, I wouldn't waste time providing a new GFE for unlimited tolerance items.
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David Dickinson
http://www.bankerscompliance.com

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