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BankersOnline.com Forums Dodd-Frank Final Rules Discussions TRID - TILA/RESPA Integrated Disclosures Rule LE - who discloses?
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#2084506 - 06/21/16 10:11 PM LE - who discloses?
Snowgirl Offline
Platinum Poster
Joined: Sep 2003
Posts: 729
We do construction only phase loans. The permanent loan is brokered out on the secondary market. Who issues the LE for the permanent loan?

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TRID - TILA/RESPA Integrated Disclosures Rule
#2084524 - 06/22/16 12:46 PM Re: LE - who discloses? Snowgirl
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,394
Galveston, TX
Either the broker (you) or the secondary market lender within three days of the application for the permanent phase. Who does it would be defined in your broker agreement with the secondary market investor.
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#2084602 - 06/22/16 03:40 PM Re: LE - who discloses? Snowgirl
Snowgirl Offline
Platinum Poster
Joined: Sep 2003
Posts: 729
Thank you!

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#2119785 - 02/28/17 04:32 PM Re: LE - who discloses? Snowgirl
banker-12 Offline
Diamond Poster
Joined: May 2007
Posts: 1,243
If the secondary market lender prepares the LE and the CD, is the bank liable for the accuracy of the disclosures?

Thank You.

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