When making a consumer loan secured by real estate or a dwelling, are we required to provide the final truth in lending disclosure? In the past we have not, and I guess assumed that the note had all the necessary disclosures. However, in researching Regulation Z, it appears that we should be giving this disclosure. I am aware that if a loan is not subject to RESPA, then we do not have to give the early disclosures, but it appears we have been missing the boat on the final TIL. Can anyone let me know if I am reading the regulation correctly? I appreciate any help.

My understanding has been that, under s. 1026.19(a)(2)(ii), so long as the "initial TIL" is accurate--meaning within the tolerances defined in s. 1026.22 (.125% and .25%)--there is no need to issue a so-called "final TIL."

http://www.bankersonline.com/forum/ubbthreads.php?ubb=showflat&Number=1329804
http://www.bankersonline.com/compliance/guru2010/gurus_comp053110d.html
http://www.bankersonline.com/compliance/guru2012/gurus_comp041612f.html

Agree with Ishmael.

BUT, blskms stated they are NOT giving earlies.

Section 1026.19(a)(2)(ii) notwithstanding, lenders often elect to provide a final TIL in all cases. This practice is low-cost insurance against the types of errors and omissions that can arise when people enter the equation. A final TIL that is an exact match for the HUD-1 is also easier to audit

TR, I think they were crossing over between regular non RESPA loans (only a final) and RESPA - early vs final. If their early was within tolerance, they don't have an issue...regulatory wise.

FWIW, I totally agree with Richard and am a firm believer in a Final TIL.