Q: If a loan originator denies the loan before the end of the three business day period after application, does the loan originator need to issue a GFE?
A: No, the loan originator is not required to issue a GFE if, before the end of the three business day period, the loan originator denies the application or the loan applicant withdraws the application.
This can be found in GFE-Denial – FAQ #1 of HUD’s FAQs. HUD’s FAQs can be found at
http://www.hud.gov/offices/hsg/rmra/res/respa_hm.cfm.
Article ID: 451, Created: October 13, 2010 at 2:11 PM, Modified: October 13, 2010 at 2:11 PM