Ohio CU Offers 'Good Faith Guarantee'

July 11, 2005, 1:00 a.m. EDT 1 Min Read

Wright-Patt Credit Union, Inc. has introduced a new mortgage loan "Good Faith Guarantee."

The credit union said that while "mortgage lenders have no legal obligation to honor their Good Faith Estimates at the time of closing, Wright-Patt now guarantees that their members' closing costs will not exceed the original Good Faith Estimate, and if they do, Wright-Patt will pay the difference."

There are some exceptions to the guarantee, including some decisions made by the borrower, as well as certain pre-paid items such as property taxes and homeowner's insurance.

For more information on these exceptions, please visit Wright-Patt Credit Union's website at www.wright-pattcu.com/GoodFaith.asp. (c) 2005 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

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