We have a deal where a GFE was issued a month ago with the settlement charges expired 1/21/13. The borrower would like to move forward with the loan. If we increase some fees but the APR doesn't change, do we have a waiting period after we redisclose the GFE with higher fees? Thanks.

Once the GFE has expired the lender has the option to honor the fees or redisclose. Just like with the original disclosures if you put it in the mail you need to wait for them to receive but you can hand it to them in person and keep rocking along!

Thanks. Just to make sure, if we are still actively working with the borrower to do the loan for the past month, and for whatever reason the closing date is past the expiration date of the GFE, are we still bound by the original GFE or can we issue a new one inbetween the expiration date and closing date?

The borrower has the ability to give you the intent to proceed anytime before the expiration date and lock in those fees. The fact that the closing takes longer has no bearing. Once an intent to proceed is received, only a change circumstance can impact the fees disclosed on the original GFE.

What expiration date on the GFE are you talking about?

Line 1 can be the same date as issue because it refers to the interest rate being offered. Once you lock the rate, this date usually reflects the rate expiration date. If you go past this, the borrower can request an extension in which case the only fees that can change are those directly tied to the rate.

Line 2 has to be a minimum of ten days. Is this the line you're referring to as expiring? Nobody closes a loan in ten days anymore. And, as Randy said above, as long as the borrower indicates intent to proceed prior to the date on Line 2, you cannot raise any fees without a valid changed circumstance.