Skip to content
BOL Conferences
Thread Options
#2192375 - 09/12/18 08:47 PM Changed Circumstance - 2nd mkt to in-house?
Gibby Offline
New Poster
Joined: Jan 2018
Posts: 13
Applicant applies for a 15 year fixed rate loan that is offered by our secondary market investor, but the loan request does not meet investor’s program requirements and is not accepted. For example, the appraisal comes in too low, or DTI is too high.

We counteroffer with our own 15 year fixed rate in-house product with less stringent and/or different criteria. The differences between the products are different fees, different underwriting standards, and servicing sold vs retained. Both have 15 year fixed rate terms, but we consider these to be different products. If the counteroffer is accepted, could a revised LE be issued for fee tolerance issues? Thanks!

Return to Top
TRID - TILA/RESPA Integrated Disclosures Rule
#2192402 - 09/13/18 01:24 AM Re: Changed Circumstance - 2nd mkt to in-house? Gibby
Truffle Royale Offline

10K Club
Joined: Jul 2003
Posts: 17,395
Yes. And your timing is correct that you have to wait till the counter is accepted.

I asked this question a while back.
be sure to read the embedded thread too.

Return to Top
#2192441 - 09/13/18 02:35 PM Re: Changed Circumstance - 2nd mkt to in-house? Gibby
Gibby Offline
New Poster
Joined: Jan 2018
Posts: 13
Thank you for your response! Great help!

Return to Top