Well, the finding does hinge around the definition of an application found in RESPA:
"3500.2(b) Application means the submission of a borrower's financial information in anticipation of a credit decision, whether written or computer-generated, relating to a federally related mortgage loan. If the submission does not state or identify a specific property, the submission is an application for a pre-qualification and not an application for a federally related mortgage loan under this part. The subsequent addition of an identified property to the submission converts the submission to an application for a federally related mortgage loan."
However, I agree with you from a practical standpoint. If the applicant is just going to receive the exact same information again, of what value does it add?? There is no requirement to identify the specific property being purchased on either the GFE or TIL.
I would argue that under 3500.7(a) that the timing requirement was met as the proper disclosure was provided not later than three days after the application was received.
"The lender shall provide the good faith estimate required under this section (a suggested format is set forth in appendix C of this part) either by delivering the good faith estimate or by placing it in the mail to the loan applicant, not later than three business days after the application is received or prepared."
I know of nothing in the statute or regulation with which they could counter that argue, as long as the original disclosures were accurate.
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