Loans, Debt & Credit - View Single Post - Truth-in-Lending Disclosure Failure Leads to Mortgage Becoming "Unsecured"

03-10-2008, 02:19 PM

The dates in the body of the ROR/Notice of Cancellation are never completed by the borrower, they are either completed at the lender level by computer, or at the closing table by the closer predicated on the date of closing and the 3 day window of cancellation from that date forward.

We have never allowed the borrower to complete those dates, that is a function of the Lender or the Closing Agent so that there are no errors in the dating functions of Cancellation.

03-10-2008, 02:19 PM	#10 (permalink)
Mary Salzer Guest Posts: n/a	Re: Truth-in-Lending Disclosure Failure Leads to Mortgage Becoming "Unsecured" The dates in the body of the ROR/Notice of Cancellation are never completed by the borrower, they are either completed at the lender level by computer, or at the closing table by the closer predicated on the date of closing and the 3 day window of cancellation from that date forward. We have never allowed the borrower to complete those dates, that is a function of the Lender or the Closing Agent so that there are no errors in the dating functions of Cancellation.