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#23120 - 07/09/02 08:10 PM Home Equity Loans
swc Offline
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Joined: Apr 2002
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I have been asked to review certain forms for use in a home equity loan program. I am a novice at this type of review and I am looking for guiadance and suggestions on where to look to assure compliance with federal laws and regulations including TIL and RESPA. Any help would be appreciated.

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Lending Compliance
#23121 - 07/09/02 08:41 PM Re: Home Equity Loans
Andy_Z Offline
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There are likely some checklists out there, but I'd encourage you to roll up your sleeves and get your hands dirty. When I started my compliance program I got the Regs out and went through them. I made my own checklist for forms requirements, with cites, and compared them to any samples I could get. I learned the rules that way and had the cites handy for my forms books. It also meant that I went over every form and disclosure. It takes time, but it was worth it to me.

When I started this, Texas didn't have home equitys at all. Now we do, albeit limited, but still no HELOCs. So I won't be much direct help.
My opinions are not necessarily my employers.
Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell

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