Error on Original GFE - Do a Revised GFE?

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Question:

If the initial GFE was issued and then fourteen days later, we realized that owner’s title insurance and tax transfer stamps are required and not on the initial GFE. Is a revised GFE required with date of acknowledging error by loan originator?

Answer:

You can only issue a revised GFE if you have a changed circumstance. If these services/fees were required and you simply forgot to put them on the GFE, this is not a changed circumstance and you'll have to live by the tolerance violation.

First published on BankersOnline.com 5/03/10