For loans applied on or after October 3, 2015, an Important Date Section will be available on the Overview tab to capture important dates related to TILA/RESPA. This section will not appear if the product on the loan has Subject to TILA/RESPA set to No.

 

Find details regarding each field listed below.

·      Application Received will populate the completed Signature Date, Interview Date, or Application Date as configured in the channel level setup.

 

·      Intent to Proceed Expressed will display the Loan Estimate > Intent to Proceed Received Date

 

·      Initial Loan Estimate Provided will reflect the date the Initial Loan Estimate is disclosed.

 

·      Initial Loan Estimate Received will populate with the Borrower Received Date from the Loan Estimate Initial Disclosure Section.

 

·      Redisclosure Require Date will only appear if the TILA/RESPA Redisclosure Alert is currently failing and is calculated as 3 business days from the oldest date that the TILA/RESPA Redisclosure delivery date was triggered. Business days excludes Sundays and Federal Holidays and may exclude Saturdays depending on admin configuration.

 

·      Revised Loan Estimate Provided will reflect with the most recent date the Loan Estimate is redisclosed. This field will also display as blank if the Redisclosure Required Date is displayed and the Loan Estimate has not been redisclosed.

 

·      Closing Cannot Occur Until will populate with the later of the Loan Estimate > Closing Cannot Occur Until Date or the Closing Disclosure > Closing Cannot Occur Until Date.

 

·      Initial Closing Disclosure Provided Date will populate with the date the Original Closing Disclosure is disclosed.

 

·      Initial Closing Disclosure Received will populate will the Borrower Received Date from the disclosed Original Closing Disclosure.

 

·      The Revised Closing Disclosure Date will reflect the Closing Docs > Important Dates >Most Recent Redisclosure > Date Closing Disclosure Issued Date. This field will not appear if the Most Recent Redisclosure > Date Closing Disclosure Issued Date is not complete.

 

·      The Revised Closing Disclosure Received Date will populate with the Closing Docs > Important Dates > Most Recent Redisclosure > Date Closing Disclosure Delivered date. This field will not appear if the Most Recent Redisclosure > Date Closing Disclosure Issued Date is not complete.

 

When the product level setting “Subject to TILA/RESPA” is set to No, the following individual General Alerts and global compliance alert tabs should be disabled and display the “Exempt” view detailed below.

 

Note: When the product level setting “Subject to TILA/RESPA” is set to “No”, we should also set the “Perform QM Review for this Product?” to “No” as well.