Wright-Patt CU Exhibits GoodFaith

Published June 22, 2005, 1:00 a.m. EDT

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Updated August 27, 2020, 2:28 a.m. EDT

1 Min Read

FAIRBORN, Ohio - (06/22/05)-- Wright-Patt CU has introduced a newmortgage loan 'Good Faith Guarantee.' The credit union said thatwhile mortgage lenders have no legal obligation to honor their GoodFaith Estimates at the time of closing, Wright-Patt now guaranteesthat their members' closing costs will not exceed the original GoodFaith Estimate, and if they do, Wright-Patt will pay thedifference. There are some exceptions to the guarantee, includingsome decisions made by the borrower, as well as certain pre-paiditems such as property taxes and homeowner's insurance.

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