Best Practices: COC and LE’s

In Stories by News Room

This month, we’re checking in with our Dallas Closing Supervisor/Assistant Fulfillment Manager, Judy Phothisen, for advice for a common question related to closing.

Judy, I am new to correspondence and would like clarification on an issue I see regularly. If a loan amount change request completed on June 5 — with a Change of Circumstances (COC) form-no LE issued and the CD issued June 8 — would this still be a valid change or do we need an LE issued on June 5, as well?

If a CD has already been issued, you cannot reissue an LE. The COC dated June 5 should suffice for the CD issued June 8. I would suggest reaching out to the investor to confirm they are okay with it, as well. You can also visit our website at https://www.bmandg.com/trid/ for TRID resources.


Up next: Now Premiering: ‘Warranty Deeds and Deeds of Trust’ Video