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#1655105 - 01/24/12 06:30 PM Good Faith Estimate redisclosure
ZmbRzr Offline
100 Club
ZmbRzr
Joined: Nov 2011
Posts: 119
Arkansas
If a new GFE is given to the borrower, is there any part of the reg that says extra time must elapse between the redisclosure and loan closing? This is not a case where the early docs had to redisclosed because of an APR difference. I can't find anything that says we would have to wait. Please help.

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#1655129 - 01/24/12 07:01 PM Re: Good Faith Estimate redisclosure ZmbRzr
Truffle Royale Offline

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Joined: Jul 2003
Posts: 17,356
You're talking about MDIA when you give a new TIL.
Did you give one and not need to? Was it absolutely identical to the original? If so, you MIGHT be able to make a case for not resetting the MDIA clock because the TIL should not have been sent.

As Rules says below, if you just redisclosed the GFE, there is no additional waiting period. You can actually hand the redisclosed GFE to the borrower at the closing table if the closing happens within the alloted three days of the closed circumstance.
Last edited by Truffle Royale; 01/24/12 08:41 PM. Reason: reading too fast
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#1655210 - 01/24/12 08:22 PM Re: Good Faith Estimate redisclosure ZmbRzr
RulesFollower Offline
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Joined: Oct 2011
Posts: 185
ZmbRzr, no extra time for redisclosing a GFE.

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