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#1905297 - 03/13/14 10:14 PM Homeownership Counseling
Farm Girl Offline
Junior Member
Joined: Dec 2002
Posts: 31
Missouri
We are going to provide the Homeownership Counseling Notice in our loan packets which is all handed to applicants at the application stage and consists of all of the early disclosures.

If the loan will be a HCML, they will be required to go through the counseling. When we provide our GFE, we do not list any service providers they can shop from for their settlement services. We are a small community and have, in most cases, only one provider of the services. However, since the Counseling Notice is going to list ten counselors, do we now have to provide a separate sheet of paper with the counseling providers and provide it again with the GFE?

We have never provided a written list of providers with the GFE before but will we need to now to include the Counselors?

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HOEPA and Homeowner Counseling Rule
#1905326 - 03/14/14 12:29 PM Re: Homeownership Counseling Farm Girl
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 79,898
Galveston, TX
You are required to provide a provider list for any services you list on the GFE in Block 6.
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#1905916 - 03/17/14 03:47 PM Re: Homeownership Counseling Farm Girl
Farm Girl Offline
Junior Member
Joined: Dec 2002
Posts: 31
Missouri
So WHEN does this list have to be provided? Can it be given at application or does it have to be given at the time of when the GFE is provided?

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#1905923 - 03/17/14 03:55 PM Re: Homeownership Counseling Farm Girl
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 46,953
Bloomington, IN
Appendix C

Where a loan originator permits a borrower to shop for third party settlement services, the loan originator must provide the borrower with a written list of settlement services providers at the time of the GFE, on a separate sheet of paper.
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The opinions expressed are mine and they are not to be taken as legal advice.

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#1905950 - 03/17/14 04:38 PM Re: Homeownership Counseling Farm Girl
Truffle Royale Offline

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Joined: Jul 2003
Posts: 17,355
For the sake of discussion, Randy and Dan, would you give the complete list again or just one name for the company whose fee you're using for Block 6?

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#1905964 - 03/17/14 04:53 PM Re: Homeownership Counseling Farm Girl
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 46,953
Bloomington, IN
We will most likely add the name to our current list and resend it if the need should ever come up.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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