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#1172555 - 04/29/09 06:42 PM New Servicing Disclosure Statements
Olaf Offline
Junior Member
Joined: Jul 2007
Posts: 38
New Hampshire
When we have a pre-approval and there is no property listed; we do not send out a GFE & early TIL. Do we still have to send out the new Servicing Disclosure Statement?

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#1172943 - 04/30/09 01:54 AM Re: New Servicing Disclosure Statements Olaf
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,364
Galveston, TX
No.

§ 3500.21 Mortgage Servicing Transfers.
* * * * *
(b) Servicing Disclosure Statement; Requirements.

(1) At the time an application for a mortgage servicing
loan is submitted,.........

You do not have an application under RESPA without a property address:

§ 3500.2 Definitions.

Application means the submission of a borrower’s financial information in anticipation of a credit decision relating to a federally related mortgage loan, which shall include the borrower’s name, the borrower’s monthly income, the borrower’s social security number to obtain a credit report, the property address,............
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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