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#2290156 - 10/26/23 05:41 PM Must non-borrower Trust (title only) receive CD
Tarhe Offline
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Joined: Nov 2006
Posts: 1,393
California
We have a mortgage purchase loan with 2 consumers as borrowers. A Trust (the father's trust) will be listed on title as a co-owner with the 2 consumers, but the Trust is not a borrower - title only. Is the Trust required to receive a copy of the Closing Disclosure?

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Lending Compliance
#2290166 - 10/26/23 06:36 PM Re: Must non-borrower Trust (title only) receive CD Tarhe
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 47,478
Bloomington, IN
If the loan is not subject to rescission then the CD can be provided to any of the consumers that will be liable but should be provided to the primary borrower if known.
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The opinions expressed are mine and they are not to be taken as legal advice.

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