Which of the following statements about charges on the GFE is NOT true?

The statement that the original Good Faith Estimate (GFE) expires if interest rates change is not true. The GFE is a document that provides borrowers with a clear understanding of the fees associated with their mortgage loan, and while it is true that interest rates can affect the overall cost of the loan, the estimates provided in the GFE remain valid for a specific time period, regardless of changes in interest rates.

If the borrower has expressed intent to proceed and the GFE has been issued, the charges outlined may still be binding unless the lender makes changes that are permitted under regulatory guidelines. Therefore, if rates change after the GFE has been provided, it does not automatically invalidate the original GFE or render it expired. This ensures that borrowers have a reliable estimate for their loan costs when making informed decisions. Understanding this point reinforces the importance of knowing how GFEs function within the loan process and how they protect the interests of borrowers.