We offer a variable rate HELOC with no closing costs and a fixed rate HELOC that includes normal closing fees. A borrower applied for the fixed rate HELOC, but the loan officer gave her the variable rate early disclosure by mistake. The borrower already signed and returned the incorrect early disclosure. What shall we do now?? The HELOC is being used to purchase a second home.

The best you can do is to provide the correct disclosure, albeit late.

Thank you!