Good Faith Estimate

From Open Risk Manual

Definition

Good Faith Estimate. GFE - representation by the lender on the costs and implications of settlement (early termination) of the loan.

Provided in a timely way. Also associated with cooling off periods

Disclaimer

This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.