Redisclosure of GFE/TIL??

Posted By: BankerChic24

Redisclosure of GFE/TIL?? - 06/21/12 01:26 PM

We are changing a loan from a VA fixed rate with a funding fee to an in-house fixed rate with an origination fee(the fee amount stayed the same) - Is this a change in circumstance that warrants redisclosure of GFE and TIL? My understanding is that redisclosures do not need to be signed?
Posted By: MyScamper

Re: Redisclosure of GFE/TIL?? - 06/21/12 02:20 PM

Did the rate stay the same? Was the funding fee part of the origination charge originally disclosed? Was the rate locked? If none of this would change on the new disclosures, then it would not be a changed circumstance.
Posted By: BankerChic24

Re: Redisclosure of GFE/TIL?? - 06/21/12 04:34 PM

The rate did stay the same and the funding fee was part of the origination charge orginally disclosed; however there is no longer a "funding fee" since this loan stayed in-house.