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#2243076 - 09/24/20 07:17 PM Correct error on initial disclosures on land loan
Clubber Lang Offline
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Joined: Apr 2019
Posts: 18
Land only loan, supposed to be fixed for 3 years, the banker mistakenly disclosed as a 15 year fixed. Can anyone direct me on how to correct that? I have read through 1026.18 and the 1026.19(b), I don't see any directions on how to correct such an error.

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Lending Compliance
#2243077 - 09/24/20 07:27 PM Re: Correct error on initial disclosures on land loan Clubber Lang
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 79,912
Galveston, TX
Well, it should have been disclosed as a TRID loan and that would be the first issue to deal with. If the loan is closed - then it would require a modification, if you can convince your customer to sign it..
Last edited by rlcarey; 09/24/20 07:28 PM.
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