Be sure to JOIN US on March 26, 2020, for our webinar, “Compliance Just For Commercial Lenders”.
Do commercial loans have any three-day disclosure requirements like consumer loans? The short answer is, yes! The Equal Credit Opportunity Act (Regulation B) has an appraisal disclosure that is required for any application that is or will be secured by a first lien on a 1-4 family dwelling. On the commercial side, think rental homes, a farm with a dwelling, etc.
Click on the video to listen to Jerod explain more.
Other Upcoming Lending Webinars:
March 17th – TRID: How to Complete the Loan Estimate
March 24th – TRID: How to Complete the Closing Disclosure
March 31st – TRID: Changed Circumstances & Revised Disclosures
April 9th – HMDA Covered Transactions