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#2214534 - 05/29/19 06:25 PM Consumer/Owner-Occupied Loan Increase
cwscb Offline
Junior Member
Joined: Jan 2018
Posts: 31
Our client wants to increase his existing home equity line against his principal residence with our bank. We will be doing a modification on the loan documents. Since the loan was originally a consumer loan, do we need the full set of disclosures again? Or what exactly is the process/rules?

Thanks.

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Lending Compliance
#2214544 - 05/29/19 07:15 PM Re: Consumer/Owner-Occupied Loan Increase cwscb
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,229
Galveston, TX
Sign the modification and Right of Rescission G-7 and wait 3 days and increase the credit limit. Do what you need to do with your DOT or other recording requirements and anything to maintain your title insurance, if any.
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