We’ve been told that TCA’s Loan Documentation Chart is a popular tool that provides lenders a ready reference guide helping them ensure borrowers are given the right disclosures on a timely basis. Many of our clients have laminated the Chart and provided it to loan officers and processors to assist with loan documentation tasks. Keep in mind that these are general guidelines; please call with specific questions. TCA has compiled the list of disclosures and when they should be provided based on its interpretation of the rules and we recommend all chart users reach their own decision on usage.
Note: The following information provides a key to understanding the disclosure timing requirement.
- Application means that the document must be provided at the time of application or with the application.
- Processing means the applicable documents must be provided during the processing stage of the loan.
- Closing means the document must be provided at the time of origination.
Federal Loan File Documentation Requirements (State Law may differ)
General Guidelines – Call TCA with Specific Questions
January 27, 2020