Changed Circumstance Documentation
From Barbara Job Packham, this Word document allows you to document an audit trail for changed circumstances when you reissue Good Faith Estimates.During an internal audit or exam, these dates are critical to compliance. As an example, if the appraisal amount comes in lower than expected, what's the changed circumstance date?Do you use the date of the appraisal?What if it was snail mailed and you didn't get it till a week after that date?How are you documenting the start date for the three day revised GFE clock?This form makes it easy and, more importantly, consistent.
Barbara was kind enough to adapt her form for the TRID Rules. We've added it to the page.
First published on 10/21/2011