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#1516157 - 03/01/11 10:20 PM Changed Circumstance(GFE)
bigballa Offline
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Joined: Mar 2011
Posts: 23
Is it ok to change the escrow amount and hazard amount on the GFE when doing a change of circumstance and have to re-disclose?

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RESPA
#1516164 - 03/01/11 10:39 PM Re: Changed Circumstance(GFE) bigballa
raitchjay Online
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Joined: Oct 2009
Posts: 9,232
OK
Not unless your changed circumstance related directly to those fees, but since those are unlimited tolerance items, there's really no need to re-disclose them.
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#1516223 - 03/02/11 02:13 PM Re: Changed Circumstance(GFE) raitchjay
Dan Persfull Online
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Dan Persfull
Joined: Aug 2002
Posts: 47,675
Bloomington, IN
I agree. Only information affected by the CC should be revised on the new GFE.
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#1516601 - 03/02/11 08:15 PM Re: Changed Circumstance(GFE) Dan Persfull
bigballa Offline
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Joined: Mar 2011
Posts: 23
The problem that I am having is that my front end system does not have the capablility to capture the original GFE and when the underwriters update the taxes and insurance for DTI purposes, it carries to the new GFE when a change of circumstance occurs, thus changing the escrow and hazard amounts.

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#1548231 - 05/09/11 05:14 PM Re: Changed Circumstance(GFE) bigballa
RBTL Offline
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Joined: Feb 2011
Posts: 11
I have the same problem, it's actually more work with our software to try to redisclose while maintaining the original escrow and daily interest charges (both unlimited tolerance).

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