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Faxed Mortgage Loan Application

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Question: 
With an emailed application that has been faxed in by the borrower, what are the compliance guidelines for the GFE and TIL?
Answer: 

The same as any other application. They must be delivered within 3 business days from receipt of the application.

2 disclosure exceptions I can think of:

1. HELOC - the plan disclosure should have been emailed with the application.

2. ARMS - the ARM disclosure should have been emailed with the application.



First published on BankersOnline.com 5/23/05

First published on 05/23/2005

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