RESPA Experts Warn Lenders About Providing Pre-Approvals in Lieu of Full GFE Disclosure
February 11, 2010
Some mortgage lenders are trying to avoid providing the good faith estimate by offering pre-qualifications and charging higher fees for the service – a new wrinkle in the implementation of Real Estate Settlement Procedures Act rules that federal housing officials are now monitoring closely. Pre-qualification offers and the use of worksheets in lieu of the GFE appear to be...