Skip to content
BOL Conferences
Thread Options
#1645281 - 01/03/12 04:29 PM TIL required?
banker-12 Online
Diamond Poster
Joined: May 2007
Posts: 1,243
We are preparing a loan modification (consumers principal dwelling) to extend the construction period for 3 more months. We initially disclosed RESPA/TIL disclosures for this construction/permanent loan.

If we are only extending the maturity, do we need to re-disclose a new TIL?

thanks,

Return to Top
Lending Compliance
#1645494 - 01/03/12 08:15 PM Re: TIL required? banker-12
RulesFollower Offline
100 Club
Joined: Oct 2011
Posts: 185
IF you are not executing a new Note or DOT/MTG then your application for credit was properly disclosed at that time and there is not need for re-disclosures now.

Return to Top
#1645615 - 01/03/12 10:15 PM Re: TIL required? banker-12
banker-12 Online
Diamond Poster
Joined: May 2007
Posts: 1,243
Thank You

Return to Top

Moderator:  Andy_Z