Customer picked another title company for closing so our loan officer dropped the fees in the 1100 series into the 1300 series which put them in box 6 on the gfe. Can we "Fix" this GFE and put them back into the 1100 series and re-disclose to the customer? It isn't a changed circumstance, but it is accurate. The loan hasn't closed yet if that is of any value.

By 'dropped' do you mean a redisclosure was done or they were put in the wrong box to begin with?

They were put in the 1300 series on the first GFE.

Our compliance examiners are here, and they advised to go ahead and redisclose with the fees in the 1100 series where they belong, but the 3 day to close calendar starts over again.

What examiners said that? I thought the only time you could redisclose was with a changed circumstance. What are they using to justify telling you to redisclose? And btw, there's no 3 day to close calendar to restart unless the APR changed.

If the GFE is mailed there would be a 3 day waiting period for the presumption of delivery.

I guess I'm confused. I didn't think there was any waiting period between delivery of the GFE and closing. I thought the waiting period before closing just applied to the early TIL.

Read section (a)(4) of 3500.7.

I had not picked up on that before. Thanks, Dan.

I had been thinking all this time that there was no mandatory delay between providing the GFE and closing. And I guess that's still true if the GFE is handed to the borrower. And I assume it would also still be true if the borrower wasn't paying any fees, correct? Since (a)(4) states that the lender can't charge fees (besides credit report) until after the applicant has received the GFE, it sounds like you could still close immediately after mailing the GFE if the borrower wasn't paying any fees in connection with the loan. Does that sound right?

If the GFE is provided in person there is no waiting period once they give their intent to proceed.

If you mail the GFE then you have to allow the 3 days as outlined in 3500.7(a)(4) for delivery before you can proceed. I'm not aware of any exemption based on who is paying the fees.