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HELOC Disclosure

Question: 
Must a Home Equity Early Disclosure be given to a borrower three days prior to closing or within three days of application?
Answer: 

The initial HELOC disclosure and mandated brochure must be given at application or within three business days of receipt of a telephone application. "At application" includes Internet and mail applications as well. (1026.40(b)-1)

First published on 11/19/2012

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