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#32216 - 09/11/02 04:46 PM Affiliate relationships
Nanwa Offline
Power Poster
Nanwa
Joined: Oct 2001
Posts: 5,564
Clintonville, WI, USA
If our director, who is also an attorney of the bank, is used for title policy work, do we need to include the affiliated relationship disclosure with the GFE?

3500.7(e)(3) says except for a provider that is the lender's chosen attorney... the lender may not require use of that provider. Does that mean a disclosure is not needed?

I am so confused, and I need to be clear on this before I try to explain it to the director in question.
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#32217 - 09/12/02 04:03 PM Re: Affiliate relationships
Lucy Griffin Offline

Diamond Poster
Lucy Griffin
Joined: Nov 2000
Posts: 1,544
The notice is still needed. However, you can require the customer to use the service.

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