SUBJECT: Broker Opt-Out for Initial LE Review – REMN Prepared Disclosures

DATE: January 4, 2023

REMN is pleased to announce that Brokers will have the ability to opt-out of having the initial Loan Estimate fees reviewed on REMN-prepared initial disclosures. This selection will be available effective January 5th, 2023.

Please read the following details in their entirety regarding this new option:

What is entailed with opting out from an initial LE Review?

  • Currently when a Broker elects to have REMN prepare initial disclosures on their behalf, REMN will review the submitted fees and advise of any adjustments that need to be made, and send out a draft Loan Estimate for the Broker to approve prior to sending out the disclosure package to the Borrower
  • Choosing to opt-out means that fees submitted via the HUB will be disclosed as-is on the Loan Estimate and REMN will not review fees
  • No Draft copy of the LE will be sent to the Broker for approval prior to disclosing and sending out to the Borrower
  • Choosing to opt-out from initial LE review means the Broker takes full responsibility for any cures that may result from under-disclosing on the initial LE

Compliance Testing

  • REMN will conduct compliance testing and will notify the Broker of any compliance fails
  • Disclosures will NOT be sent out for any loans failing NY Subprime (locked or unlocked) or HOEPA fails (locked loans only) as it is our policy these fails must be resolved prior to advancing the loan

Opt-Out Eligibility

  • Broker opt-out for LE Review will be allowed by company only – except –
  • Larger companies with multiple branches may opt-out on a branch-level basis

How to Opt-Out:

  • The Broker’s authorized representative (to opt-out at a company or branch level) must complete the online Broker Opt-Out Form for Initial LE Review
  • Once the request is received, the requestor will receive a confirmation email with a PDF copy of the executed opt-out attestation
  • Please allow up to 48 hours for the opt-out review to be applied to new loans submitted
  • Once enrolled, the opt-out will apply to all submitted files and may not be applied on a per-file basis
  • The Broker may revoke their opt-out status at any time by emailing  –

** Please contact your Account Executive with any questions **