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When the is a mortgage broker involved, who’s responsibility is it to deliver the Good Faith Estimate to the consumer?

April 26, 2017consumer deliver estimate faith good involved mortgage broker responsibility

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When the is a mortgage broker involved, who’s responsibility is it to deliver the Good Faith Estimate to the consumer?

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In the event that the mortgage broker is acting as an exclusive agent, there should be a GFE provided within three days of receipt of the application, by either the broker or the lender. However, if the broker is not an exclusive agent of the lender, then it is the lenders responsibility to see that there was an estimate of costs sent to the consumer.