Hi all,

Situation where borrower is pushing back the closing date beyond our 60 day expiration for rate that is indicated on the GFE. I understand that we could do a change of circumstance since this is borrower driven, if we do this, can we make the expiration of rate for whenever we want it to be? The rate is not locked in the sense that this is an in house loan and not subject to the timing restraints of a secondary market rate lock.

Also keeping in mind that the rate is not going to change at all, can we just let it be and not have to worry about the 60 days indicated on line 3 if we are ok with the terms and fees indicated on the initial disclosure?

I believe if nothing is going to change you can leave it as is and not worry about the 60 day issue or sending a COC GFE.

Cheers!

Agree. As mentioned numerous times as long as you are satisfied with the current fees you are not required to issue a revised GFE unless there is rate lock option exercised by the borrower.