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#2237930 - 06/11/20 03:38 PM LE Question
beegee Offline
Diamond Poster
Joined: Feb 2004
Posts: 1,110
We prepared a Loan Estimate as follows:
Purchase price - $30,000.00
Loan amount - $22,500.00
Fees were to be paid in cash, and were accidentally shown as financed, increasing the loan amount to $24,149.15.

Property did not appraise:
New purchase price - $25,000.00
New loan amount - $17,250.00
And fees will be paid in cash

My question is, do we need to re-disclose? Normally with a reduction in fees, we would not, but with the original LE reflecting the fees being financed, will we need to?

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TRID - TILA/RESPA Integrated Disclosures Rule
#2237935 - 06/11/20 04:13 PM Re: LE Question beegee
rlcarey Offline
10K Club
Joined: Jul 2001
Posts: 82,983
Galveston, TX
Lender error is not a changed circumstance. Re-disclosure at this time, if fees are not increasing, is totally up to you.
The opinions expressed here should not be construed to be those of my employer:

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