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#1370703 - 04/07/10 06:27 PM HELOC maturity- notice/disclosure required?
M&M Offline
Platinum Poster
Joined: Nov 2003
Posts: 527
At maturity of a HELOC, does anything in Reg Z require special disclosures or a notice to go out detailing the payoff, per diem, due date, etc., or can our monthly periodic statement suffice? The statement doesn't detail the per diem and projected accruals, and it doesn't specify that it would be the final bill. So we were considering sending a separate notice to the borrower to provide these details. Any issues with that?

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Lending Compliance
#1371006 - 04/07/10 11:01 PM Re: HELOC maturity- notice/disclosure required? M&M
rlcarey Offline
10K Club
Joined: Jul 2001
Posts: 77,215
Galveston, TX
No issues that I know of.
The opinions expressed here should not be construed to be those of my employer:

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