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#2034374 - 08/18/15 08:22 PM Changed Circumstance - Update Important Date #2???
TNB Offline
Member
Joined: Mar 2008
Posts: 77
Texas
If there is a valid changed circumstance and some fees are consequiently updated is one also requred to update the 2nd date under Important Dates? We have an auditor on site that says we should. I can only find where you are allowed to only update the fees directly affected by the changed circumstance. 1024.7 (f). It is silent on the date. Your insight is welcomed.

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RESPA
#2034394 - 08/18/15 08:59 PM Re: Changed Circumstance - Update Important Date #2??? TNB
Island Dreaming Offline
100 Club
Joined: May 2009
Posts: 233
midwest
Refer your auditor to the infamous RESPA FAQs:

12) Q: If a revised GFE is provided due to changed circumstances or a borrower requested change, must a loan originator complete Line 2 in the ―Important Dates‖ section on the revised GFE if the shopping period has ended and the borrower has already expressed intent to continue with the application?
A: Yes, the loan originator must complete Line 2 in the ―Important dates‖ section with the same date from the last GFE. The borrower is not required to re-indicate the intent to proceed with the revised GFE because the borrower has previously expressed an intent to move forward with the transaction.
_________________________
CRCM

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#2034408 - 08/18/15 09:31 PM Re: Changed Circumstance - Update Important Date #2??? TNB
TNB Offline
Member
Joined: Mar 2008
Posts: 77
Texas
THANK YOU!

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