HUD's FAQs - May a Loan Originator issue a GFE if the Loan Originator Has Not Received One of the Six Pieces of Information included in the Definition of an Application?

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Q: May a loan originator issue a GFE if the loan originator has not received one of the six pieces of information included in the definition of an application (borrower‘s name, borrower‘s monthly income, borrower‘s social security number, property address, estimate of the value of the property and mortgage loan amount sought)?

A: An application includes information the loan originator requires the borrower to submit in anticipation of a credit decision. If a loan originator issues a GFE, the loan originator is presumed to have received all six pieces of information.

This can be found in GFE-General – FAQ #23 of HUD’s FAQs.  HUD’s FAQs can be found at http://www.hud.gov/offices/hsg/rmra/res/respa_hm.cfm.

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