Skip to content
BOL Conferences Top Gun 23
Thread Options
#1693776 - 04/30/12 03:32 PM Mortgage Servicing Disclosure 2 applicants
CaseyBoo30 Offline
Gold Star
Joined: Feb 2007
Posts: 262
Winchester, KY
I have been out of compliance for a couple of years, and I just want to check, has anything changed inthe regulation that now allows the lender to provide one mortgage servicing disclosure to two applicants?

Return to Top
#1693798 - 04/30/12 03:55 PM Re: Mortgage Servicing Disclosure 2 applicants CaseyBoo30
elcinoca Offline
Platinum Poster
Joined: Jan 2002
Posts: 537
Elizabeth City, NC
Section 3500.21 1024.21(c)

(c) Servicing Disclosure Statement;
Delivery. The lender, table funding mortgage broker, or dealer that anticipates a first lien dealer loan shall deliver the Servicing Disclosure Statement within 3 business days from receipt of the application by hand delivery, by placing it in the mail, or, if the applicant agrees, by fax, e-mail, or other electronic means. In the event the borrower is denied credit within the 3 business-day period, no servicing disclosure statement is required to be delivered. If co-applicants indicate the same address on their application, one copy delivered to that address is sufficient. If different addresses are shown by co-applicants on the application, a copy must be delivered to each of the co-applicants.

Last edited by elcinoca; 04/30/12 04:38 PM. Reason: Update to add correct CFPB Section
Return to Top

Moderator:  QCL