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Some LE violations can’t be fixed

Question: 
Our original Loan Estimate shows the loan as construction but it was in fact a refinance. Is this correctable on a revised Loan Estimate?
Answer: 

A revised Loan Estimate will not fix this violation. Instead, determine how it happened and what steps can be taken to prevent it from happening again. Make sure you have the right purpose on the Closing Disclosure.
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Learn more about John Burnett and Andy Zavoina’s webinar Annual LENDINGCompliance Recap

First published on 01/01/2017

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