Skip to content
GeoDataVision
Thread Options
#261842 - 10/27/04 03:30 PM Retention of Documents following Payoff
krmabyrd Offline
New Poster
krmabyrd
Joined: Jan 2003
Posts: 18
Chicago Southland
Just looking for some direction. I am currently reviewing the required retention period related to many documents. Could someone provide direction as to what the required retention period is for RESPA related documents following the loan payoff? The documents that I am mostly concerned are those like the GFE and HUD 1/1a documents? Other documents in question would be cancelled mortgages, Early TIL Disclosure, Servicing Disclosure Statements.

Any thoughts, guidance, direction (to research) would be greatly appreciated.

Return to Top
Lending Compliance
#261843 - 10/27/04 03:34 PM Re: Retention of Documents following Payoff
someone else Offline
Power Poster
someone else
Joined: Aug 2004
Posts: 3,300
back to my roots
226.25 states that records need to be retained for 2 years...
_________________________
Somewhere, something incredible is waiting to be known. - Carl Sagan

Return to Top
#261844 - 10/27/04 06:51 PM Re: Retention of Documents following Payoff
krmabyrd Offline
New Poster
krmabyrd
Joined: Jan 2003
Posts: 18
Chicago Southland
Thanks.... I was aware of the Reg. Z section but wasn't sure if it applied to all R/E documents that I referred to...

Return to Top
#261845 - 10/28/04 02:47 PM Re: Retention of Documents following Payoff
mceleste Offline
New Poster
Joined: Apr 2002
Posts: 4
You will need to look at the section of Regulation X for each document(GFE, HUD-1, escrow statements)for record retention requirements. The requirements are not the same as Regulation Z.

Return to Top
#261846 - 11/02/04 02:53 PM Re: Retention of Documents following Payoff
renniks Offline
Diamond Poster
renniks
Joined: Sep 2003
Posts: 2,162
New England
Don't forget your identification documents for CIP. These have a 5 year retention period!!

Return to Top

Moderator:  Andy_Z