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#742626 - 05/30/07 07:24 PM Requirements for Final Commitment Letter?
Lavender Offline
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Lavender
Joined: Jun 2003
Posts: 335
Greetings all & Happy Belated Memorial Day,

Do you know if there are any requirements (federal - compliance & / or Safety & Soundness, state, FNMA, etc.) that require a Final Commitment Letter on the following loan types for OTS-regulated financial institutions?

1. Closed End Loans
2. HELOCS

Thank you in advance,

Penny
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Lending Compliance
#742886 - 05/30/07 11:25 PM Re: Requirements for Final Commitment Letter? Lavender
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,371
Galveston, TX
This is usually dictated by State law. I am not aware of any OTS requirements.
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