Disclosures for Spouse on Deed of Trust

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Question:

What disclosures must go to a spouse who will be on the deed of trust but not on the new purchase mortgage loan?

Answer:

If you are referring to a consumer purpose loan secured by the spouse's primary residence that is subject to rescission they would need copies of all the material disclosures (see Regulation Z Section 1026.23(a)(3)(ii)). They would also need a copy of the ETIL under Section 1026.17(d).

First published on BankersOnline.com 3/26/12