New RESPA Guidelines for Renewals

Answered by:

Question:

With the new RESPA, how are renewals to be treated? Do we need to give all the disclosures and waiting periods? If we need to give early disclosure, when are they to be dated? What about the final disclosures?

Answer:

The coverage of RESPA has not changed. If the renewal is a refinance as determined by Regulation Z 226.20, then RESPA will also apply.

First published on BankersOnline.com 1/9/12