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#2245895 - 11/25/20 06:19 PM borrower changed mind
Compliance Action Subscriber 1226 Offline
100 Club
Joined: Sep 2015
Posts: 198
An applicant applied for a $87,000 home loan and signed the initial loan papers, but has changed mind before closing and now wants only $75,000. Does loan officer only need to document the application the customer changed their mind and does he need to redisclose anything

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TRID - TILA/RESPA Integrated Disclosures Rule
#2245899 - 11/25/20 07:15 PM Re: borrower changed mind Compliance Action Subscriber 1226
raitchjay Offline
Power Poster
Joined: Oct 2009
Posts: 9,086
OK
Wouldn't need to re-issue an LE just to document a lower loan amount. It can just be shown on the CD. I can't imagine that any fees would go UP as a result of a lower loan amount.
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