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  1. Good Faith Estimate
    Within three business days of application. Provides loan applicants with an estimate of the costs in dollar amounts with settlement.
  2. Settlement Cost Information Booklet
    Within three business days of application. For purchase loans - explains the settlement process and reviews RESPA Protections. **Cannot be made part of larger document**
  3. Mortgage Servicing Disclosure Statement
    Within three business days of application. States whether loan servicing can be sold or transferred.
  4. HUD-1 Settlement Statement
    At closing (or one day prior if requested). Provides the actual costs in dollar amounts associated with settlement. The HUD-1A is used for refinance transactions.
  5. Initial Escrow Statement
    Within 45 days after closing. Provides an account of funds placed in escrow.
  6. Affiliated Business Arrangement Disclosure
    At time of a referral to an affiliate. Provides notice of an ownership interest between a loan originator and a third party service provider.
  7. Servicing Transfer Statement
    15 days prior to transfer. Advises a borrower when servicing for his/her loan is transferred.
  8. Annual Escrow Statement
    Annually. Provides annual analysis to prevent escrow overcharges.
  9. TIL Disclosure Statement
    Within three business days of application. Provides the cost of credit using APR and finance charge as well as other transaction terms.
  10. CHARM Booklet
    Within three business days of application. Provides information on adjustable rate mortgage.
  11. Variable Rate Program Disclosures
    Within three business days of application. Provides information for each program a loan applicant has expressed interest in.
  12. Open-end Credit Disclosure (i.e. When Your Home is on the Line)
    Within three business days of application. Provides information on open-end credit plans such as HELOC’s.
  13. Final TIL Disclosure
    Seven days prior to closing. Re-discloses the APR and finance charge for the loan transaction
  14. Notice of Right to Rescind
    At Closing. Advises of right to cancel certain lending transactions such as refinances and home equity lines within three days of closing. Two copies must be given to each person with ownership interest.
  15. Notice of Action Taken/Notice of Adverse Action
    Within 30 days of application. Advises loan applicant on status of application - if adverse action is taken notice provides additional information on rights, etc.
  16. Notice of Right to Receive Appraisal
    Within 30 days of application. If adverse action is taken, provides applicant with information on right to obtain a copy of his/her appraisal. Applicant must respond within 90 days  of adverse action.
Card Set:
2013-02-10 22:11:04

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