Skip to content
BOL Conferences
Forums · Active Threads · Forum Rules · Mark All Read · Log In
BankersOnline.com Forums Dodd-Frank Final Rules Discussions HOEPA and Homeowner Counseling Rule Homeownership Counseling completed!
Thread Options
#1902436 - 03/05/14 04:52 PM Homeownership Counseling completed!
Ski Offline
Platinum Poster
Joined: May 2003
Posts: 639
South Louisiana
We identified a HOEPA (HCM), gave the Homeownership Counseling Notice with the list. Applicant completed the counseling and presented us (today) with the Certificate of Completion.

Questions I am getting now:

Is this certificate good for just this loan? (I think Yes, the certificate is transaction specific.)

If the borrower comes in to refinance this loan, can we re-use the certificate. (Again, I think No. New counseling would be required.)

Do we keep the original certificate? Or scan it?

Apparently this applicant had a good experience with the counseling.

Thanks in advance.

Return to Top
HOEPA and Homeowner Counseling Rule
#1902473 - 03/05/14 06:07 PM Re: Homeownership Counseling completed! Ski
E.E.G.B Offline
Power Poster
E.E.G.B
Joined: Jul 2002
Posts: 6,726
the sandy shore
I agree, I think the counseling is transaction-specific, because they've presumably explained the circumstances surrounding this specific borrowing situation.

I would definitely scan the certificate in.

Glad the applicant had a good experience!
_________________________
I disbelieved what he was saying so hard, I probably created an alternate universe where it wasn't true.

Return to Top