Thread Options
#2243761 - 10/07/20 09:44 PM Correction to Subject Property Street Address
Refresher2020 Offline
Junior Member
Joined: Aug 2020
Posts: 34
Hi BOL Friends,
We have a situation where the subject street address was entered and disclosed incorrectly by our origination staff. Can we correct or do we wait for the next issuance of the Loan Estimate to correct the address?
Thank you for your help!

Return to Top
TRID - TILA/RESPA Integrated Disclosures Rule
#2243768 - 10/08/20 08:32 AM Re: Correction to Subject Property Street Address Refresher2020
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 78,971
Galveston, TX
There is no prohibition on sending an informational only LE for any reason to the borrower. It will however, not correct the original error.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top
#2243777 - 10/08/20 01:30 PM Re: Correction to Subject Property Street Address Refresher2020
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 39,598
Cape Cod
Just be aware, however, that if you do send an updated or corrected or revised LE for any reason, you need to make sure that you have rechecked and updated where necessary all the estimates (whether or not you are using the LE to adjust the tolerance limit basis for any of those estimates).
_________________________
John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8

Return to Top