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#2243093 - 09/24/20 09:37 PM Confirm Receipt of LE & Transfer of Servicing
Refresher2020 Offline
Junior Member
Joined: Aug 2020
Posts: 35
If our Loan Estimate has signature lines for the borrower(s) to confirm receipt, is their any reason why there should be an additional "Acknowledgement of Receipt of Loan Estimate" in our initial disclosure packages? This "Acknowledgement..." states the borrower(s) are confirming receipt of the loan estimate and reiterates the loan estimate expiration date (which is also on p1 of the LE). I think it's redundant and unnecessary, but I want to be sure I'm not missing anything.

In addition, I thought the RESPA Servicing Disclosure requirement also went away with TRID because the language was included on p3 of the Loan Estimate under "Other Considerations"? We have non-reverse mortgage loans with a Servicing Disclosure Statements in the initial disclosure packages.

Thank you for your input!

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TRID - TILA/RESPA Integrated Disclosures Rule
#2243096 - 09/24/20 09:50 PM Re: Confirm Receipt of LE & Transfer of Servicing Refresher2020
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,219
Galveston, TX
Redundant on both accounts, unless required by a secondary market investor.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2243098 - 09/24/20 09:55 PM Re: Confirm Receipt of LE & Transfer of Servicing Refresher2020
Refresher2020 Offline
Junior Member
Joined: Aug 2020
Posts: 35
Ahhhh.... Yes - those pesky secondary market investors! UGH...

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#2243099 - 09/24/20 09:59 PM Re: Confirm Receipt of LE & Transfer of Servicing Refresher2020
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,219
Galveston, TX
But I am not specifically aware of any that require these to be separate. Likely these forms are a carry over from pre-TRID days.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2243100 - 09/24/20 10:01 PM Re: Confirm Receipt of LE & Transfer of Servicing Refresher2020
Refresher2020 Offline
Junior Member
Joined: Aug 2020
Posts: 35
That's what I'm thinking too. I'll bring it up tomorrow to see why they're including them.

As always, thank you rlcarey!!

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