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#1884557 - 01/09/14 03:58 PM Homeownership counseling disclosures
Bec Offline
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Bec
Joined: Jul 2010
Posts: 1,114
The Great White North
I just want to make sure I am thinking about this right. In order for the Homeownership Counselor to issue the certificate of completion for the borrower, they must confirm that they have received all the early disclosures required for RESPA or the Early disclosure required for HELOCs.
Would all the early disclosures be:
GFE
ETIL
HUD Settlement booklet (Home equity booklet if applicable)
and subsequently the HOEPA disclosure.

am I missing anything?
Thankyou!
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HOEPA and Homeowner Counseling Rule
#1884927 - 01/09/14 11:16 PM Re: Homeownership counseling disclosures Bec
Bec Offline
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Bec
Joined: Jul 2010
Posts: 1,114
The Great White North
bump bumpity bump bump, bump bump
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#1885835 - 01/13/14 03:50 PM Re: Homeownership counseling disclosures Bec
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 39,868
Cape Cod
If the loan is subject to RESPA, the consumer must have received either the RESPA GFE (which will become the Loan Estimate next year) or, for HELOCs, the early HELOC disclosures under 1026.40.

If the loan isn't subject to RESPA, it's the disclosures required under 1026.32(c), which apply only to high-cost mortgages (FKA HOEPA loans), which have to be provided at least 3 business days before closing (and which the Bureau now encourages you to provide even sooner).

Note that for most banks, loans that are HCMLs and not subject to RESPA will be few.
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#1886109 - 01/13/14 08:51 PM Re: Homeownership counseling disclosures Bec
Bec Offline
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Bec
Joined: Jul 2010
Posts: 1,114
The Great White North
Thank you thank you!
Appreciate, as always, the guidance
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