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#2116915 - 02/03/17 03:58 PM HELOC and Applicant Sig on Early Disc
Crazy in Compliance Offline
Member
Joined: Mar 2016
Posts: 50
Ohio
I can't find it anywhere that says the applicant has to sign the early HELOC disclosure that is given at application. Our form has a signature line and we do have the applicant sign it when applying in person. What about apps taken over the phone and the disclosure is mailed? We currently print a new one and have them sign it at closing. Our procedure is to complete a checklist that details when the disclosures were given and the method they were given. So, is a signature required? Thanks!
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It's better to be absolutely ridiculous than absolutely boring. . . Marilyn Monroe

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#2116916 - 02/03/17 04:08 PM Re: HELOC and Applicant Sig on Early Disc Crazy in Compliance
David Dickinson Offline
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David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
You need to be able to demonstrate the process, but you don't need to have the disclosure signed. I wouldn't in all cases. Why? Because if you miss it once, it looks like you didn't provide since you procedure is to get it signed.
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David Dickinson
http://www.bankerscompliance.com

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#2117035 - 02/03/17 09:33 PM Re: HELOC and Applicant Sig on Early Disc David Dickinson
Crazy in Compliance Offline
Member
Joined: Mar 2016
Posts: 50
Ohio
Thank you, David.
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It's better to be absolutely ridiculous than absolutely boring. . . Marilyn Monroe

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