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#1761947 - 11/28/12 09:30 PM Lender quoted wrong rate
Compliance1 Offline
Platinum Poster
Joined: Mar 2006
Posts: 657
Would we have to re-disclose if the lender provided the customer with the incorrect rate? The rate is actually lower than what was quoted. The preliminary TIL disclosure was reissued due to the rate and payment changing but should we re-disclose the EGFE as well?

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#1761958 - 11/28/12 09:51 PM Re: Lender quoted wrong rate Compliance1
rlcarey Offline
10K Club
Joined: Jul 2001
Posts: 79,637
Galveston, TX
It is not required. Two things trigger a new GFE - a rate lock or a change of circumstance that causes fees to rise.
The opinions expressed here should not be construed to be those of my employer:

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