Compliance?

[apm]

Hey Greg,

By any chance, were you able to get that up-to-date respa list for me?

Thanks

[Greg]

Not yet. Still trying to find the time to do it. I will see what I can do over the next few days.

[apm]

Thank you very much Greg. I greatly appreciate your help.

[Greg]

I am going to be vague and I suggest you find a better resource for this information.

I would suggest contacting HUD for more detail.

In addition to the standard disclosure requirements CA may require you to send:

1) A disclosure notifying the borrower it is their responsibility to make copies of signed disclosures.
2) They are entitled to file a written loan application and receive a copy of lenders loan evaluation criteria.
3) A copy of "The Housing Financial Discrimination Act of 1977" including contact information for the state of CA residential mortgage lending act section.
4) Consumer Caution and Home Ownership Counseling Notice
5) California Impound Disclosure/Waiver.
6) California Statement Of Loan.

[apm]

Thank you for the info

[Greg]

Yeah sorry it is not more specific or concrete.

[The Wizard]

Hi Folks,

In addition to the list Greg gave you, instead of using a GFE form, use the California Mortgage Loan Disclosure Statement form, it is a state specific form and in addition many lenders are asking to see Afflidated Business Disclosure form. Both can be found on your mortgage software such as Point or Encompass.

Happy Holidays!

[Greg]

Yeah I was going to say the system should pick the proper disclosures for you. Mine does but it is empower!

[Secret!]

There's lots and lots of disclosures that need to be presented to borrowers by LENDERS; some in advance but most at the closing table. As a Mortgage Broker, the GFE is your responsibility