Early Disclosures on Mortgage Preapprovals

Question:

If an applicant is only seeking mortgage preapproval, and has not decided on a specific property to purchase, do we still need to provide a full set of early disclosures?

Answer:

No, until a property is identified, you do not have an application for RESPA. This also removes the MDIA (P-TIL) requirement.

First published on BankersOnline.com 11/02/09