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#1219094 - 07/20/09 01:54 PM Early TIL Changes
callie85 Offline
Member
Joined: Mar 2009
Posts: 50
I'm sure the answer to this is posted somewhere, but I can't seem to find it..

The Early TIL changes effective July 30 - Does this apply to applictions received on or after July 30? Or loans closed on or after July 30?

Thanks!

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Lending Compliance
#1219109 - 07/20/09 02:08 PM Re: Early TIL Changes callie85
dgp Offline
100 Club
Joined: May 2005
Posts: 145
It applies to applications received on or after July 30, 2009.

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#1219192 - 07/20/09 03:55 PM Re: Early TIL Changes dgp
pacar Offline
Gold Star
Joined: Jul 2007
Posts: 320
Also related to the early TIL...

I'm reading contradictory statements from various sources regarding HELOC's. Do the early TIL disclosures and all of the associated timelines apply to HELOC's or not?

I'm feeling a little confused...I got thrown in to this (new position for me last week!)at the last moment and am trying really hard to get caught up!
Last edited by pacar; 07/20/09 03:57 PM.
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#1219194 - 07/20/09 04:00 PM Re: Early TIL Changes pacar
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,529
Bloomington, IN
HELOCs are exempt. Closed-end home equities are not.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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#1219196 - 07/20/09 04:01 PM Re: Early TIL Changes Dan Persfull
pacar Offline
Gold Star
Joined: Jul 2007
Posts: 320
Thanks for the clarification, Dan!

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