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#1742011 - 09/19/12 02:28 AM Credit Life - required disclosures
Many Hats Offline
Platinum Poster
Joined: May 2008
Posts: 915
Orlando, FL
Even if an applicant did not want credit life, if a bank sells it, it is my understanding that they supposed to give the Federal Credit Application Insurance Disclosure at the time of application. What if it's a renewal of an existing loan?

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Lending Compliance
#1742034 - 09/19/12 12:39 PM Re: Credit Life - required disclosures Many Hats
RR Joker Offline
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RR Joker
Joined: Nov 2002
Posts: 20,644
The Swamp
To my knowledge, if you solicit it, you must give it. If you don't, then you wouldn't give it.
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My opinion only. Not legal advice.

Say you'll haunt me - Stone Sour

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#1742057 - 09/19/12 01:34 PM Re: Credit Life - required disclosures Many Hats
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 46,417
Bloomington, IN
What if it's a renewal of an existing loan?

There is no exemption for renewal/refinance transactions.
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The opinions expressed are mine and they are not to be taken as legal advice.

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