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#2088549 - 07/18/16 04:26 PM LO sent draft CD customer that's incomplete
donnac Offline
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Joined: Feb 2003
Posts: 624
We were working on a DRAFT CD for a customer & the LO sent it to the customer. The draft was so incomplete that it doesn't list payee names, loan payoffs, finance charge, amount financed, etc. In addition, we're not even sure that the fees that are listed are correct. This was definitely an internal working document that should not have been sent to the customer.

We're addressing this issue with the LO, but I'm not sure what we need to do about the totally incomplete CD that we sent to the customer.

Thoughts on what we need to do?

Thanks.

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TRID - TILA/RESPA Integrated Disclosures Rule
#2088614 - 07/18/16 06:53 PM Re: LO sent draft CD customer that's incomplete donnac
bgehres Offline
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Joined: Mar 2005
Posts: 126
When you say sent it to the customer, how did that happen? You might have an out if it was a pdf attachment to an email. It could be argued that you didn't comply with e-Sign and therefore haven't disclosed it. In that case, you'd just have a PR issue with the customer (and the obvious internal issues with the LO).

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#2088682 - 07/19/16 11:34 AM Re: LO sent draft CD customer that's incomplete bgehres
donnac Offline
Platinum Poster
Joined: Feb 2003
Posts: 624
Thanks. Any other thoughts?

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#2088715 - 07/19/16 01:35 PM Re: LO sent draft CD customer that's incomplete donnac
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 77,238
Galveston, TX
Send the customer a letter and call them indicating that an incomplete draft document was inadvertently set to them and they should ignore it. Mistakes happen.
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