HELOC disclosure

Posted By: Anonymous

HELOC disclosure - 08/29/02 06:01 PM

If you give the customer the early HELOC disclosure with the application, are you also required to give a preliminary truth in lending disclosure within 3 business days of receipt of the application? I know we don't give good faith's - I know this is probably a simple question but I'm farely new to lending. Thanks.
Posted By: Dan Persfull

Re: HELOC disclosure - 08/29/02 06:57 PM

No.
Posted By: Dan Persfull

Re: HELOC disclosure - 08/29/02 07:01 PM

Sorry- refer to 226.5b
Posted By: Lucy Griffin

Re: HELOC disclosure - 08/29/02 07:10 PM

The early HELOC disclosures are the TIL disclosures for lines of credit. A closed-end loan based on home equity would be a different matter -- subject to the closed-end timing rule.