Any time after submitting your loan, you may need to request a Change of Circumstance. A Change of Circumstance should be submitted for any of the following:
- Out of Tolerance APR Changes (i.e. Program Change, Interest Rate Change, etc.)
- Loan Program Changes (i.e. Fixed to ARM, Loan Term Change, etc.)
- Loan Amount Changes
IMPORTANT: After Initial Loan Estimate or Submission (whichever comes first), you will only be able to adjust the Rate Lock Period and Impounds. To learn more, read Locking Your Loan.
Request a Change of Circumstance
To request a Change of Circumstance, navigate to the Disclosures page and click Request CoC / Redisclosure.
From this window, open our Change of Circumstance Request Form by clicking Download Request Form.
Note: If you complete this form in your web browser, you must use print to PDF to save.
Then, click the Choose File button and select the completed Change of Circumstance Request Form.
Lastly, enter a brief summary of the requested changes in the Message to Lender section, then click Submit.
Your Change of Circumstance Request form will be uploaded, and your request will be placed in line for review.
You can check the status of your request in the Disclosure Requests section of the Disclosure page. You may also cancel by clicking the Cancel Request button.
Note: Since the redisclosure is a quick process, contact our Disclosure Desk at firstname.lastname@example.org or by phone at (949) 390-2684 to verify your cancellation.
Change of Circumstance Review
The Disclosures Team will review the CoC, modify the loan, and send out a redisclosure. They will notify the Processor, Account Manager, and Account Executive when the loan changes are made.
The Underwriter will review applicable CoCs after the redisclosure is sent based on our Condition Review turn times. The Underwriter will send an updated Approval Certificate if the CoC triggers a change in conditions.
IMPORTANT: A CoC triggering a re-underwrite is subject to increased turn times.
If the CoC is not accepted (such as violating program guidelines), the Underwriter will revert the loan changes and provide a detailed explanation to the Processor, Account Manager, and Account Executive. The loan will then be redisclosed with the original parameters.
Change of Circumstance After Initial Closing Disclosure
If the Initial Closing Disclosure has been sent, a redisclosure CD will be issued requiring a 3-day Loan Doc waiting period in the following cases:
- The disclosed APR exceeds .125% of the most recently disclosed CD.
- The loan product changes.
- A prepayment penalty is added.
IMPORTANT: If the borrowers do not consent electronically, there is a 6-day waiting period required before Loan Docs.