If you have a “refinance”, as defined by Regulation Z (Truth in Lending) in 12 CFR 1026.20(a), you are generally required to provide all new disclosures. There are some instances, for example, if the new loan does not satisfy and replace the existing loan, where new disclosures are not required. That’s only taking into consideration Regulation Z; however, other regulatory requirements do still apply such as Regulation B. It’s very important that you understand when you have an application under Regulation B, which might trigger other requirements/disclosures, joint intent, appraisal disclosure, government monitoring information, adverse action notices, etc.
Kevin explains more in the video.
Published
2023/08/24
