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#1569586 - 06/24/11 03:48 PM Changed Circumstance Example List
americangateway Offline
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Joined: Jun 2011
Posts: 8
Has anyone seen a good list of eligible/ineligible changed circumstances posted? I'd like to provide my loan officers with an example list that they could reference for specific situations. An example would be adding a co-borrower after disclosing (Eligible) or changing address from TBD once a buyers property is found (Ineligible). I understand that it may not be possible to have every situation on a reference list but I'm sure someone has put something together that is pretty close.

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RESPA
#1569650 - 06/24/11 04:44 PM Re: Changed Circumstance Example List americangateway
Truffle Royale Offline

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Joined: Jul 2003
Posts: 17,359
Not me! imho, I don't want them to try to make their situation fit whatever is on a piece of paper. If they get it wrong, ... eek

I've trained on the basis of needing something to happen, not just a fee change, to have a CC.

btw, property tbd could NEVER be a CC. You do not have an application because the property address is one of the six things needed for an applicatoin per RESPA.

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#1569696 - 06/24/11 05:38 PM Re: Changed Circumstance Example List Truffle Royale
MN Banker Offline
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Joined: Aug 2006
Posts: 980
Nope. I've been asked many times for one and I always have to explain that most times it's a case by case basis. What is a changed circumstance for one file may not be for another - it really depends on what you knew when the initial GFE was issued.

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#1569699 - 06/24/11 05:31 PM Re: Changed Circumstance Example List MN Banker
americangateway Offline
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Joined: Jun 2011
Posts: 8
thank you both. Truffle....I am aware that property tbd cannot be a CC...I was listing it as an (ineligible) example

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