These most recent FAQs offer additional guidance on the following issues:
- A loan originator can require the use of a particular provider of flood certification and tax service as long as that provider is not affiliated with the lender;
- Pages cannot be added to the GFE but it may be printed on legal size paper and the shading and margins can be changed;
- How to deal with the situation when an FHA approved loan correspondent closes a loan in its name that is not table funded by its sponsor;
- What items can change when a new GFE has been issued and the interest rate has not been locked;
- Clarification of some of the requirements when mortgage brokers and lenders interact;
- What items can change when a revised GFE is issued and the borrower has previously locked the interest rate;
- Lenders may not require a borrower to sign consents to verify employment, income or deposits prior to issuing a GFE;
- Verification documents can be requested after a GFE has been issued;
- Lender can indicate that although it has identified certain providers of settlement services these identifications do not constitute an endorsement;
- When a new GFE has been issued borrowers are not required to re-indicate an intent to proceed;
- An escrow waiver fee is a type of loan level price adjustment and may be part of the calculation of Block 2 on the GFE;
- The Y.S.P. payment cannot be shown on the HUD-1 as POC;
- If a lender requires a condominium certificate and questionnaire for loans on condos, that charge should be listed on Block 3;
- Charges that are part of the sales contract, but are not required by the lender, are not disclosed on the GFE;
- The fee paid by the seller for the preparation of deeds or closing charges should be disclosed in a blank line of the 1100 series in the seller’s column; and
- If an appraisal is subcontracted by Company A to Company B, then Company A’s name should be identified on Line 804.