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#2270355 - 05/11/22 10:54 PM HELOC Early Disclosures - Multiple Borrowers
Haeunee Offline
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Joined: Mar 2022
Posts: 7
In the case that borrowers are added on after the initial submission of the application, are we required to redisclose? Or is the general understanding that it is only one set of disclosures for each application, regardless of the amount of borrowers?

For example, if a HELOC application is submitted online today and we provide the disclosures, but tomorrow the applicant meets with the MLO to add on a co-borrower, are we required to provide disclosures to the co-borrower?

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Lending Compliance
#2270368 - 05/12/22 02:49 PM Re: HELOC Early Disclosures - Multiple Borrowers Haeunee
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,364
Galveston, TX
1026.5(d) - along with Comment 2
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2270394 - 05/12/22 06:51 PM Re: HELOC Early Disclosures - Multiple Borrowers Haeunee
Haeunee Offline
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Joined: Mar 2022
Posts: 7
Thank you, Randy!

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