|Event Date||Thu May 27 EDT (5 months ago)|
Financial institutions are required to provide numerous disclosures throughout the application process – some disclosures are early, some are later. Which disclosures are required and when are they required? What do the disclosures mean?
The Mortgage Loans: The Closing Disclosures webinar will provide an overview of the Federal lending compliance disclosures that are or may be required with mortgage loans, in terms of timing (4- or 3-business days before closing and at closing), and what the disclosures are telling the consumers.
HERE IS WHAT YOU WILL LEARN:
The timing and significance of:
• 4-business days before closing – the Revised LE.
• 3-business day before closing disclosures and other information.
• Closing Disclosure / Corrected CD (in certain circumstances).
• High Cost Notice.
• Before closing – Evidence of flood insurance.
• At Closing.
• Corrected CD.
• Initial escrow statement.
• Right of rescission.
• Sale of Insurance.
• Red flags.
Vice President, ProBank Austin