51-75 800 Flash Card Labels.docx - 51/800 When must you do...

51/800
When must you do an Affiliated Business
Arrangement Disclosure to the consumer?
A referring party must give the Affiliated Business
Arrangement Disclosure to the consumer
(immediately) at the time of referral, or prior to loan
consummation – if referring business where he/she
has more than 1% interest in the referring
business/service.
52/800
What did the forms
GFE and the HUD get replace with?
For mortgage transactions occurring after October 3, 2015, the GFE
and the HUD have been replaced by two new forms called the
“ Loan Estimate” (LE) and the “Closing Disclosure” (CD) – however,
the GFE and HUD will continue to be provided for HELOCS, reverse
mortgages and loans securing mobile homes where the owner will
not also own the land which the mobile home resides.
,
The GFE and HUD Discloser belongs what Act?
The Loan Estimate (LE) and Closing discloser (CD)
belong to what act?
.
How many days does the Closing Discloser need
to delivered before
loan consummation (doc
signing) and a final Closing Disclosure at the
loan consummation (doc signing)?