Where do you go to get on the distrbution list?

So much for thinking (and hoping) the mandatory compliance date might be extended beyond 7/30/09.

Just to make sure I am clear, 226.19(a)2(i) is saying that after the GFE/PTIL are sent our lenders have to wait another 7 days before they can close the loan? And then if something changes in the terms during that 7 day waiting period, they have to redisclose and then wait 3 more days to close the loan?

but wait... if you MAIL the revised disclosures, you really have to wait an additional 6 days to allow time for the borrower to RECEIVE them 3 days prior to closing, right?

"...comment 19(a)(2)-3 to clarify that the three business-
day waiting period before consummation begins when the disclosures are received by the consumer and not when they are mailed.

... if the corrected disclosures are mailed, the
consumer is considered to receive the disclosures three business days after mailing."

They way I read the new rule, the question of receipt of the early TIL is only applicable when you are dealing with the fee restriction (i.e. a lender may not charge a fee until the early TIL is received by the consumer). But the date the early TIL or the revised TIL is sent governs when the loan can close.

So, is this a true statement?????

Early TILA documents are being amended to add a new required statement onto the document. This change is required under the Mortgage Disclosure Improvement Act, which was a part of the Housing and Economic Recovery Act that was signed by the President on July 30, 2008. The new statement (for both the initial disclosures and corrected disclosures) reads as follows: "You are not required to complete this agreement merely because you have received these disclosures or signed a loan application." This new statement has an effective date of July 30, 2009.