Thread Starter: Anonymous
Title: Re: changed circumstance and shopping list
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We normally don't provide a shopping list to borrowers when originating a mortgage loan. Recently we started to do this for short sale transactions. We issue a GFE with our charges and give the shopping list. We have a situation where the borrower elected to go with a completely different title company not on our list. The first GFE showed no points, now the borrower has switched to paying a point to receive a lower rate. We need to issue a revised GFE. Do we just revise the items that were affected, such as block 2 and the mortgage transfer tax and leave our title charges as listed in the original? The amount of the title policy is also changing, I think. Or do we show the charges of the title company the borrower selected?Maybe this is a stupid question but we are confused.
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