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#1934435 - 06/20/14 04:05 PM Homeownership Counseling List
FFBT Offline
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Joined: Jul 2012
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When a borrower request electronic disclsoures, do you have to provide the homeownership conseling list or is a homeownership acknowledgement with a link to the CFPB website to pull the list ok?

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#1934785 - 06/23/14 04:27 PM Re: Homeownership Counseling List FFBT
Red Raiders Offline
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1024.20 says that you must provide a list. I don't think you could get by with just giving the link to the applicant.
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#1934796 - 06/23/14 04:59 PM Re: Homeownership Counseling List FFBT
manimal Offline
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I think there was some sort of temporary provision for FI's whose systems were in the process of being automated to print the list automatically (versus the banker going to the website and pulling the list for each individual transaction.) But if that is not the case, then yes, you need to actually produce a list.

See this bulletin: http://files.consumerfinance.gov/f/20131...equirements.pdf
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#1934829 - 06/23/14 06:10 PM Re: Homeownership Counseling List FFBT
BankingNut Offline
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That applies to lenders who are taking the second approach of building their own internal lists and systems to piggyback off of the CFPB query file.

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#1934831 - 06/23/14 06:11 PM Re: Homeownership Counseling List FFBT
manimal Offline
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Exactly, BankingNut. It doesn't sound like that applies here, unless there is more the OP isn't telling us.
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#1948078 - 07/31/14 10:54 PM Re: Homeownership Counseling List FFBT
Boyd Offline
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Posts: 29
For the temporary alternative - has the CFPB said how long that will be an available alternative?

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#1948116 - 08/01/14 01:27 PM Re: Homeownership Counseling List FFBT
ROC Offline
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Joined: Jul 2013
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Florida
For the alternative temporary, it states it will take 6 months to develop the system. I read it as 6 months from announcement so expired May 8th others read it as 6 months from January 10th implementation so July 10th. Either way I think it’s expired unless others can point to an extension or disagree.


11/08/2013

Last edited by ROC; 08/01/14 01:28 PM. Reason: Link Error
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