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#412028 - 08/23/05 02:38 PM GFE and Required Service Provider
Anonymous
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The GFE only allows 3 spaces to input the required service providers. However, we have 5 required providers......where do we list?

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Lending Compliance
#412029 - 08/23/05 02:39 PM Re: GFE and Required Service Provider
Great River Offline
Member
Joined: Feb 2004
Posts: 64
Iowa
We use an addendum

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#412030 - 08/23/05 02:42 PM Re: GFE and Required Service Provider
Anonymous
Unregistered

Thanks GreatRiver, we use an addendum right now also, but I was wanting to try and eliminate the addendum and have it all on the GFE. Guess maybe we should stick to the addedum.

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#412031 - 08/23/05 02:47 PM Re: GFE and Required Service Provider
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,529
Bloomington, IN
You need to add the following statement if it is not already an option in your software: This is only allowable if you have 5 or more providers for the same type settlement service, i.e. appraisers. If you only have four, then you will need to contact your vendor for a work around or hand type the provider's information on the GFE.

Lender will require a particular provider from a lender-controlled or lender-approved list for the following items: Line XXX
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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#412032 - 08/23/05 02:56 PM Re: GFE and Required Service Provider
Anonymous
Unregistered

If you keep the addedum, what do you put in the space on the GFE if less than 4 providers for a particular service, and all four are listed on the addendum......can you just state....see addendum

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