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#279110 - 11/23/04 08:03 PM early TIL cheat sheet
Anonymous
Unregistered

Does anyone have or is anyone willing to share an early TIL cheat sheet! I'm going crazy!!!

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Lending Compliance
#279111 - 11/23/04 08:21 PM Re: early TIL cheat sheet
someone else Offline
Power Poster
someone else
Joined: Aug 2004
Posts: 3,300
back to my roots
I believe David Dickinson was the one who shared a really great copy with me a couple of months ago. PM me with your banking email address and I will send it to you.
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Somewhere, something incredible is waiting to be known. - Carl Sagan

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#279112 - 11/23/04 08:23 PM Re: early TIL cheat sheet
Anonymous
Unregistered

It's also under Bankers Tools.

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#279113 - 11/23/04 08:23 PM Re: early TIL cheat sheet
David Dickinson Offline
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David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
I'll save you the trouble. We have a Real Estate Matrix that you can download from our website. This will provide information on TIL disclosures as well as other real estate disclosures.
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David Dickinson
http://www.bankerscompliance.com

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#279114 - 11/23/04 08:25 PM Re: early TIL cheat sheet
megandmel Offline
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megandmel
Joined: Nov 2004
Posts: 141
OK
Thank You!!!
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#279115 - 11/23/04 08:29 PM Re: early TIL cheat sheet
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 47,517
Bloomington, IN
You can go here and download David's real estate matrix.

Kirchman also has one.
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The opinions expressed are mine and they are not to be taken as legal advice.

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#279116 - 11/23/04 08:42 PM Re: early TIL cheat sheet
Anonymous
Unregistered

Okay, so looking at the spreadsheet, it tells me that Mom and Dad buying house for daughter, secured by house for daughter does not require early TIL....correct?

Thank You for your help!

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#279117 - 11/23/04 09:56 PM Re: early TIL cheat sheet
David Dickinson Offline
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David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
Correct. This is not a principal dwelling purchase. I would treat this a rental, unless the parent's ever plan to live there.
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David Dickinson
http://www.bankerscompliance.com

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#279118 - 11/24/04 04:41 PM Re: early TIL cheat sheet
megandmel Offline
100 Club
megandmel
Joined: Nov 2004
Posts: 141
OK
Does a second mortgage require early TIL?
_________________________
Is that spelled HUM DUH?

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#279119 - 11/24/04 04:45 PM Re: early TIL cheat sheet
someone else Offline
Power Poster
someone else
Joined: Aug 2004
Posts: 3,300
back to my roots
Define 2nd mortgage. Are we talking about a HELOC? Or a fixed Home Equity Loan?
_________________________
Somewhere, something incredible is waiting to be known. - Carl Sagan

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#279120 - 11/24/04 04:46 PM Re: early TIL cheat sheet
David Dickinson Offline
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David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
Refer to §226.19(a). Lien status doesn't matter. If you have a RMT subject to RESPA, you must provide a P-TIL disclosure.
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David Dickinson
http://www.bankerscompliance.com

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#279121 - 11/24/04 04:58 PM Re: early TIL cheat sheet
someone else Offline
Power Poster
someone else
Joined: Aug 2004
Posts: 3,300
back to my roots
I thought that wasn't the case with open-end credit transactions though?? Am I confused? (Well I guess that is besides the point! )
_________________________
Somewhere, something incredible is waiting to be known. - Carl Sagan

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#279122 - 11/24/04 05:50 PM Re: early TIL cheat sheet
David Dickinson Offline
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David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
You're right about open-end credit. I didn't know that you asking for open-end. I quoted §226.19, which is the closed-end section of TIL.
_________________________
David Dickinson
http://www.bankerscompliance.com

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#279123 - 11/24/04 06:07 PM Re: early TIL cheat sheet
someone else Offline
Power Poster
someone else
Joined: Aug 2004
Posts: 3,300
back to my roots
David - thank goodness! Just when I thought I was starting to get it, I got scared that I was misinterpreting ETIL! Whew!

megandmel - open end credit or closed?
_________________________
Somewhere, something incredible is waiting to be known. - Carl Sagan

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#279124 - 11/24/04 06:16 PM Re: early TIL cheat sheet
Truffle Royale Offline

10K Club
Joined: Jul 2003
Posts: 17,395
Thank you! This is really well done and concise. Everyone here will be getting a copy as an after-Thanksgiving present.

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#279125 - 11/24/04 08:02 PM Re: early TIL cheat sheet
David Dickinson Offline
10K Club
David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
A real estate matrix as a present. I'm sure they love it.
_________________________
David Dickinson
http://www.bankerscompliance.com

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#279126 - 11/24/04 09:31 PM Re: early TIL cheat sheet
someone else Offline
Power Poster
someone else
Joined: Aug 2004
Posts: 3,300
back to my roots
It was one of my favorites!
_________________________
Somewhere, something incredible is waiting to be known. - Carl Sagan

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