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Is there some reason that you think they are giving you a better deal than you can get anywhere else? (any why continue working with them if they can't get the initial disclosures correct?)It sounded like you where expecting to get $1970 credit to cover your closing costs.If your home is worth over $480,000 and you have a 740+ FICO, you should be able to go to just about any lender and get a credit to cover all origination and closing costs and get 3.875% 30yr fixed. (with those terms you should get a credit of about $2000 to cover all the 3rd party costs after all lender fees are paid)I agree - the 30 day lock is what would worry me the most. Refiances generally take about 45 days from the time you get your documentation in and appraisal ordered.
Great subject line - The GooF Faith Estimate. Appropriate.To answer the question, the lender is NOT required to honor the broker submitted GFE. If the broker disclosed an incorrect GFE to you, they must also include this GFE in their GFE history to the lender. The lender then has the decision of accepting it (and paying a cure to YOU for the broker error), or rejecting the GFE.Your amount of credit makes it clear you have a "Lender Paid" transaction, this means only the lender can pay the cure, the broker cannot make any contribution to the cure.The broker is bound to their GFE.
So, now what do I say when the broker calls me? This is what he wrote in the e-mail he sent me: "The documentation I sent you is completely incorrect. The interest rate lock that was provided to us was incorrectly interpreted. I need to discuss your loan with you. Please contact me when you can. Do not sign the information I sent you."Should I say that I want to proceed with the GFE since it was locked? I don't want to come off as being difficult or rude, because then I'm afraid that they will delay and not close my refinance within 30 days as promised. They still need to schedule an appraisall.
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