Skip to content
GeoDataVision
Thread Options
#2237287 - 05/27/20 09:15 PM Revised LE & Change in Circumstance
beegee Offline
Diamond Poster
Joined: Feb 2004
Posts: 1,099
South
Our borrower is requesting an increase in his construction loan amount by $25,000.00. The only two fees affected are the origination fee (zero tolerance) and the lenders title insurance policy (10% tolerance). I don’t think we would exceed the 10% basis, but we will exceed the tolerance basis on the origination fee.

Do we need to issue a revised LE?

Return to Top
Lending Compliance
#2237289 - 05/27/20 09:55 PM Re: Revised LE & Change in Circumstance beegee
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 79,893
Galveston, TX
Yes - with three business days of the borrower request.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top

Moderator:  Andy_Z