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#1864218 - 10/23/13 04:40 PM "You Are Not Required" Notice under Reg. Z
manimal Offline
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manimal
Joined: Feb 2008
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I know we are required under 1026.19 to include the following statement on the early TIL for RESPA-covered loans:
"You are not required to complete this agreement merely beause you have received these dislcosures or signed a loan application."

But what about on the Final TIL? I just pulled one for a home equity loan (closed-end 2nd) and it's on the Final TIL. That doesn't seem right, does it? I guess my worry is it is misleading to say such a statement on the TIL that is signed at loan closing.

Thoughts? Thank you in advance!
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Lending Compliance
#1864231 - 10/23/13 04:57 PM Re: "You Are Not Required" Notice under Reg. Z manimal
rlcarey Offline
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Joined: Jul 2001
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It's OK, see comment 1026.17(a)(1)5.xvi
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#1864288 - 10/23/13 06:38 PM Re: "You Are Not Required" Notice under Reg. Z manimal
manimal Offline
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Joined: Feb 2008
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Thank you! It would have taken me forever to find that one little line inside the reg. smile
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