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#1363140 - 03/24/10 05:51 PM Redisclose P-til Amount, Rate or Term, Fin charge
lefty Offline
100 Club
lefty
Joined: Oct 2002
Posts: 188
Can anyone provide me a guide on when a preliminary TIL would need to be issued other than if the finance charge is not within the tolerance level?

Are Early TIL'S needing residclosure necessary in any cases where the:

1. loan amount changes
2. rate
3. term

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#1363197 - 03/24/10 06:24 PM Re: Redisclose P-til Amount, Rate or Term, Fin charge lefty
RolTyde Offline
Member
Joined: Nov 2008
Posts: 78
Anywhere but here
I have a similar question. If the APR changes but less than .125 that requires redisclosure, can we disclose anyway? We like to redisclose if there's a small change so that the small changes won't add up to us being out more than .125 in the end and having to redisclose and possibly hold off closing.

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#1363217 - 03/24/10 06:39 PM Re: Redisclose P-til Amount, Rate or Term, Fin charge RolTyde
SnuffytheSeal Offline
Gold Star
Joined: Oct 2009
Posts: 270
State of Confusion
Sure you can re-disclose but you will be subject to the new 3 day wait period (plus mail) if you do.

It shouldn't matter if other terms change - just if you're out of tolerance
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#1363231 - 03/24/10 06:46 PM Re: Redisclose P-til Amount, Rate or Term, Fin charge SnuffytheSeal
swiggles Offline
Power Poster
swiggles
Joined: Aug 2001
Posts: 7,333
If the new disclosure is not out of tolerance with the original disclosure, why would you have to wait three days?.....unless the delivery method was by mail?
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