Who are the investors? Why am I getting 2 sets of disclosures? Is this normal? by WesleyHotlz64 from Grapevine, Texas. May 10th 2011
If you are working with a broker, then the broker will have initial disclosures at the time of application. Then once the loan is submitted to the funding lender (investor) they will also send you disclosures. Disclosures are to make sure you are the applicant, and to disclose the terms and costs of the loan. Keep in mind that GFE's are always over stated, because they changed a new law, that you cannot increase fees, only they can be lowered. Your actual costs should be less than the initial GFE
How about getting the numbers correct the first time.
The person that says "How about getting the numbers correct the first time." is obviously someone who does not understand wholesale lending. The broker will always give you disclosures and then you will also receive them from the lender once the broker places your loan. This is perfectly normal and has nothing to do wit the accuracy of the first set of disclosures.
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