Skip to content
Thread Options
#474994 - 12/27/05 03:45 PM First mortgage, then a second mortgage
Tricia Offline
Gold Star
Joined: May 2004
Posts: 458
Smack dab in the middle of IL
We are doing a first mortgage to pay off a HUD loan plus part of a second mortage from another bank. Then we are going to do a second mortgage to finish paying of the other second mortgage plus give customer some $$$ for other debt. Our question is since we are doing these at the same time, do we need double early disclosures, HUD statement, GFE, right of rescission, etc?
Life is the willingness to be yourself and live in harmony with others. - Dr. Cherie Carter-Scott

Return to Top
Lending Compliance
#474995 - 12/27/05 03:52 PM Re: First mortgage, then a second mortgage
#12 Offline
Diamond Poster
Joined: Jun 2005
Posts: 1,338
I'm sure someone will correct me if I'm wrong, but I believe 2 loans = 2 sets of disclosures.

Return to Top

Moderator:  Andy_Z