We have a mortgage broker we use who says we have to get a revised LE for any changes from the original LE. We have had situations of loan amounts dropping or increasing by a thousand dollars which didn't cause any changes to rate locks or tolerances and they still required a revised LE. On a couple of occasions it even caused us to postpone closings because the customer requested to lower the loan amount so they didn't get any cash back. According to them Secondary Market has different guidelines when it comes to when a revised Loan Estimate has to be issued but I have never heard that anywhere else. Does anyone else have Secondary Market underwriters doing this too?

We do a lot of secondary packages for hundreds of lenders and all they have to do is follow the TRID rules and nothing more. If you are using a mortgage broker, then are you not the creditor? Why do they make this call after they hand off the loan application to you?

If you have investors who impose additional requirements not in the regulation, it would be up to the investors to advise you of those requirements, wouldn't it? Or is the broker you are describing a broker for secondary market sales, not a "front-end" broker?

No and we sell everything on Secondary.
Like John and Randy, I'm curious if you're dealing with a broker or directly to secondary.

Sorry it seems I was incorrect and it isn't a broker. It seems we just have a servicer so I am totally confused on who the underwriter is saying requires this. It seems they are doing unneeded work but they are adamant that they need to for some reason.

The more disclosures you issue the more chances there are to make mistakes. I would be doing a little more research. Might be time to explore other underwriting services available.

Have whoever is saying this is necessary show you the actual guideline requiring it. Way back when TRID first came out, some investors tried to read it this way but we pushed back and took it to their compliance departments asking for chapter and verse. In every case, they backed down. Likely, this is someone's interpretation with no basis in fact.

That was my point to Randy. Thanks everyone.