We received many excellent and challenging questions during our webinar “Makings Sense of the New GFE,” hosted in the month of February. As promised, below you will find answers to all of the questions asked. The answers come from our best available resources, and we will all continue to learn more as HUD posts new information.

Question 1 – We understand two circumstances in which the compensation to the originator can change: the loan amount changes and a portion of the origination charges are dependent on the loan amount; the loan program changes.  If a loan is floating and is later locked, we understand that the credit or charge to the borrower may change, but “Our Origination Charges” may not change and the originator’s comp (even if the YSP or rebate changes) will not change.  Correct?

See the answer to this and 15 more questions here:

http://www.mortgagecomplianceadvisors.com/index.php/answers-to-questions-about-new-gfe

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