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Change In Circumstance for A New GFE?

Question: 
Is there a specific change in circumstance form to accompany a new GFE that must be provided?
Answer: 

Randy Carey: There is no required form to be delivered to an applicant. Most banks have an internal form to document the circumstances and date of knowledge.

Answer: 

Dan Persfull: Most banks have an internal form to document the circumstances and date of knowledge.

And if you do not have such a form then hopefully you have some other documentation in place to support any and all changed circumstances where a revised GFE was issued.

From 1024.7(f):

Loan originators must retain documentation of any reason for providing a revised GFE for no less than 3 years after settlement.

First published on 01/20/2014

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