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Redisclosure of LE

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  • February 10, 2016 at 3:10 pm EST #8759
    mcarey
    Participant

    If we lower the interest rate on a TRID loan and make no other changes, there are no fee changes, the term and amount are unchanged, do we need to re-disclose the LE?

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  • February 15, 2016 at 10:23 am EST #8767
    rcooper
    Member

    If there wasn’t a rate lock in place when you issued the LE but later on you lock the rate, at that point you are required to provided a revised LE.

    February 16, 2016 at 9:54 am EST #8784
    mcarey
    Participant

    If we lower the rate and add a prepayment penalty (no other changes) do we need to re-disclose? And if so, what reason do we give for the re-disclosure?

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