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#1823805 - 06/14/13 07:10 PM Not on the loan but vested in the property
Wannaknow Offline
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Joined: Jul 2011
Posts: 238
I have a loan with a individual applying for the loan but there will be 2 individuals on the Deed (title).

I know regulation states this is ok as long as the title only person signs the security instrument, riders to the security instrument, truth-in-lending and the right to cancel.

It does not specify which TIL - the early, final or both?

Please help me!!

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Lending Compliance
#1823963 - 06/15/13 10:56 PM Re: Not on the loan but vested in the property Wannaknow
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,371
Galveston, TX
There are no signature requirements on Truth-in-Disclosures. There are only delivery requirements.
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#1824033 - 06/17/13 02:40 PM Re: Not on the loan but vested in the property Wannaknow
Truffle Royale Offline

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Joined: Jul 2003
Posts: 17,400
FNMA requires all title holders to sign the mortgage and final TIL.
RoR only goes to persons who own AND LIVE in the dwelling. So if your second title holder does not live there, they do not get RoR.

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