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#1653173 - 01/19/12 08:07 PM Acknowledgement of GFE and TIL?
Mrs. Rizzo Offline
10K Club
Mrs. Rizzo
Joined: Mar 2006
Posts: 10,392
Curled up by the fire...
I'm not finding anything in federal or state law but found another FI's disclosure list stating:

Prior to becoming obligated on the loan the applicant must acknowledge, in writing, receipt of the "good faith estimate" and all applicable disclosures required by the Truth in Lending Act. Applies to federally regulated loans > = $30 K for 1st liens and > = $20K for 2nd liens

They actually have 2 seperate forms - Acknowledgement of Receipt for TIL and one for GFE.

Can someone point me in the right direction????

Thank you!
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#1653306 - 01/19/12 11:30 PM Re: Acknowledgement of GFE and TIL? Mrs. Rizzo
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 78,573
Galveston, TX
Sounds like a procedural issue rather than a law or regulation.
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#1653322 - 01/20/12 12:48 AM Re: Acknowledgement of GFE and TIL? Mrs. Rizzo
Mrs. Rizzo Offline
10K Club
Mrs. Rizzo
Joined: Mar 2006
Posts: 10,392
Curled up by the fire...
Good gravy! I finally found a reference - 12 CFR 1024.7(f)(4)
Something in Dodd Frank with a comment period that doesn't end until 2-12. Talk about being prepared! LOL!

Thanks for your input, Randy!
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Take responsibility for your life.

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