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Answers (3)
- Justin Sheftell, "Courtesy Mortgage"
- Contributions:3420
Do you have locked GFE showing the rate and costs are available THROUGH your lock date in Important Dates #1 and 2? If you do then the change could be a the result of a "change in circumstance" which can be a variety of things, most commonly a change from estimated appraisal value to actual appraisal value.
If you were sent a revised GFE with different pricing, you should also get an explanation for the change of circumstance.
If your initial GFE shows the Important Dates expired, then your change is a standard Float to Lock change of circumstance.
As always, ask the Loan Originator for an explanation.
If you were sent a revised GFE with different pricing, you should also get an explanation for the change of circumstance.
If your initial GFE shows the Important Dates expired, then your change is a standard Float to Lock change of circumstance.
As always, ask the Loan Originator for an explanation.
- wayne lancaster, "funds2"
- Contributions:1174
Lender was required to send you a Good Faith Estimate with in 72 hrs of locking your rate. What did that show? If credit was verbal and did not show on GFE, there is a credibility issue with lender but may not be legal issue.
I would contact ask Loan Officer for explanation, and if not satisfactory discuss with his/her branch or area manager. Zero in on GFE and disclosure requirements as that has serious consequences for lender if done improperly.
I would contact ask Loan Officer for explanation, and if not satisfactory discuss with his/her branch or area manager. Zero in on GFE and disclosure requirements as that has serious consequences for lender if done improperly.
- Dave Skow, "daveskow"
- Contributions:1104
When asked .. How do they explain this ?
Mortgage Broker or Lender ? Feel taken advantage of...
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