Remove Value Choice from the Disclosure Notice

Aug 6th, 2022
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How to Remove Value Choice from the Disclosure Notice

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hey guys so at this point in the process your loan is either just been approved through underwriting or its about to be fully approved underwriter signed off on it were good to go all this hard work throughout this entire process you have finally made it whoo I know its been sometimes it can be difficult getting all the documentation and all the funky requests but look youre about to be in your house and at the end of the day thats all that matters that weve executed and hopefully weve provided you amazing customer service throughout the process so heres what I want you to expect next youre about to get a closing disclosure its going to be emailed to you so its very important when you get that email you need to open it and follow the instructions the instructions are gonna be to either download it or print it I like for you to go ahead and download it and print it so that way you have a copy you can wet sign and send back over to us so our it triggers our system that youve

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The amount financed is shown on page 5 of your Closing Disclosure under Loan Calculations. For example, if you have a $100,000 loan, but the lender is charging you $4,000 in certain types of fees in order to get the loan, the amount financed would be $96,000.
The three items are: 1) the APR becomes inaccurate (violates tolerances); 2) the addition of prepayment penalty; and, 3) a loan product change. These three items require redisclosure and a new waiting period of three business days prior to the loan closing.
The closing disclosure is a five-page statement of your loan terms, projected monthly payments, fees and closing costs. Lenders are required by law to provide buyers with a standardized closing disclosure form.
The six items are the consumers name, income and social security number (to obtain a credit report), the propertys address, an estimate of propertys value and the loan amount sought.
What type of information is found in the Loan Calculations section on page 5 of the Closing Disclosure? three business days of loan application. loan servicing. On what document would a consumer find information regarding a good-faith estimate of credit costs and transaction terms for a property loan mortgage?
Page 5: Loan Calculation: This section shows the breakdown of your loan. Other Disclosure: Read this section as it will have more information on your appraisal, liability after foreclosure, and a few more items that are important to read for your own understanding and knowledge.
Page 1. The first page of your closing disclosure provides a snapshot of the most important features of your mortgage, including: Loan information. This section should match your loan estimate regarding the loan term, loan purpose and loan program (conventional, FHA, VA or USDA).
Timing Requirements The 3/7/3 Rule The initial Truth in Lending Statement must be delivered to the consumer within 3 business days of the receipt of the loan application by the lender. The TILA statement is presumed to be delivered to the consumer 3 business days after it is mailed.

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