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#2050612 - 11/19/15 10:26 PM adding co-borrower after LE went out
Burgess Offline
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Joined: Jan 2004
Posts: 1,621
after the loan estimate went out we are adding a co-borrower - do we need to resend disclosures? nothing else changed.
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TRID - TILA/RESPA Integrated Disclosures Rule
#2050615 - 11/19/15 10:42 PM Re: adding co-borrower after LE went out Burgess
TMatt87 Online
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TMatt87
Joined: May 2011
Posts: 1,984
Idaho
The disclosures only have to be given to the primary applicant, so I think you would be OK not to resend. However, we've run into issues with investors in this situation where they want the initial docs to have the same names as the closing docs, so generally we send out new disclosures with both borrowers listed.
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#2050646 - 11/20/15 02:35 PM Re: adding co-borrower after LE went out Burgess
RobinB Offline
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RobinB
Joined: May 2005
Posts: 298
Maryland
Just had a similar situation, thanks.

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#2050658 - 11/20/15 03:13 PM Re: adding co-borrower after LE went out Burgess
swiggles Offline
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swiggles
Joined: Aug 2001
Posts: 7,351
If someone has the right to rescind, is it required to provide that person with his/her own LE? Isn't an LE a "material disclosure" for the loan?
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#2050662 - 11/20/15 03:19 PM Re: adding co-borrower after LE went out Burgess
RR Joker Offline
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RR Joker
Joined: Nov 2002
Posts: 20,654
The Swamp
No. It's an estimate. Material means the numbers are 'final'.
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#2050669 - 11/20/15 03:35 PM Re: adding co-borrower after LE went out Burgess
swiggles Offline
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swiggles
Joined: Aug 2001
Posts: 7,351
Thank you, Joker!
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