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T O P I C R E V I E W |
esnotary |
Posted - 03/27/2013 : 08:49:59 AM Has anyone else been slammed this week? It's been crazy here where I live, and the strangest thing has been happening with the BofA packages I've been receiving! I did several BofA loans and even though they were all loans against primary residences there were not RTC's in any of the packages! I called Title on each one and they said that's the way they received the package from the lender and they'd get back to me (all 4 were different title companies) and I haven't heard a thing. Maybe BofA had a glitch in their system....anyone else have this happen?
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2 L A T E S T R E P L I E S (Newest First) |
Renee |
Posted - 03/28/2013 : 04:03:30 AM With any refi from the same lender, as long as the amount secured does not increase beyond closing costs (i.e. closing costs can be rolled in), there is no right to rescind. A lender could chose to provide an RTC, but it is not a "right" required by Reg Z. |
esnotary |
Posted - 03/27/2013 : 12:28:42 PM Update: Sorry for posting this in the wrong place! I just found out through BofA that if the closing is an "in-house" refi with BofA the bank is waiving the necessity of the RTC. (if the borrower already has their loan with the bank and they are refi-ing with the same lender) Good to know!
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