An application was taken on December 28, 2009 using the old GFE, but it was necessary to redisclosure on January 4, 2010. Would the redisclosures include the old GFE or the new GFE? I am under the impression we would redisclose with the Old GFE and close with the old Hud-1. Please give me your interpretations. Thanks in advance.

I don't think this is addressed in the FAQs. I would guess that any GFE prepared after 1/1/10 needs to be on the new form. The only time an old form is allowed after 1/1/10 is the HUD-1, and only if the GFE was prepared in 2009.

HUD's FAQs in all of their 51 page glory: RESPA FAQs

If you start with the old (application taken before 1-1-2010, you can continue on with the old.

That was my understanding, also. I am having trouble getting a straight answer. Thanks to both!

Except if you have my software provider who is forcing us to re-disclose on the new form due to the way they will update their system for RESPA. Grrrrrrr

true dat~!

I'm working on 'em, respa queen. There may be a work-around yet. Anyone else having problems with their provider should call them and raise holy heck. HUD's preference is for 'old' loans to finish on 'old' forms. Using the new ones is just an option.

Keep working on 'em!! I'm counting on you!!

Any chance that is in an FAQ or in writing somewhere? I haven't been able to find anything that suggests that that is okay, and I've been telling my LOs not to re-disclose a GFE in 2010 if they did one in 2009. Thanks much!

Related Q&A's that may be of help. They don't address redisclosure, but keep in mind, under the OLD rules, redisclosure was optional anyway:



7) Q: If a borrower applies for a first and second mortgage before January 1, 2010 and the loan originator issues a GFE using the new form for the first mortgage, does the loan originator have to issue the second mortgage GFE on the new GFE form also?
A: No, the loan originator does not have to issue the GFE for the second mortgage on the new GFE form prior to January 1, 2010 even if the loan originator issues the GFE for the first mortgage on the new GFE form. To avoid consumer confusion, the loan originator may choose to issue new GFEs for both the first and second mortgage, or old GFEs for both the first and second mortgages. If the loan originator issues the old GFE, the old HUD-1 must be used. If the loan originator issues the new GFE, the new HUD-1 must be used.

Q: If a GFE is issued on the old form prior to January 1, 2010, and the loan will close after January 1, 2010, which HUD-1 form is to be completed by the settlement agent?
A: If a GFE is issued on the old form prior to January 1, 2010, then the old HUD-1 form must be used even if closing will occur after January 1, 2010. For GFEs issued on the old form, the loan originator has the option to reissue the GFE (with the same terms and charges) on the new form, in which case the settlement agent must complete the new HUD-1 form.