The Federal Truth-in-Lending Disclosures, Itemizations of Amount Financed, and Notice of Right to Cancel forms print copies per Borrower, Non-Purchasing Entity (NPE), and Inter Vivos Trust (Trust) for rescindable loan transactions printed through ConformX.
These forms will be modified to consolidate the NPE and Trust copies into the same forms as the Borrower copies. The same number of copies will print, and each will contain the exact content and signature lines that print now. However, instead of having separate ConformX document identification numbers (Cx ID’s) for the Non-Purchasing Entity and Inter Vivos Trust copies, the NPE and Trust copies will print with the same Cx ID’s in the lower left corner that print on the Borrower copies.
Regrouping these forms will make updating and maintaining these documents a more streamlined process. Again, besides the Cx ID’s in the footer of the NPE and Trust copies, there will be no content differences between the copies that print now and the copies that will print after the consolidations are made.
Here is a list of the standard documents that will be streamlined in the manner described above. The NPE and Trust copies will continue to only print when applicable.
• Initial Truth-In-Lending Disclosure Cx14380 will also contain the copies from NPE Cx14381 and Trust Cx14382.
• Truth-In-Lending Disclosure Cx14363 will also contain the copies from NPE Cx14364 and Trust Cx14365.
• Itemization of Amount Financed 01-01-10 Cx14644 will also contain the copies from NPE Cx14645 and Trust Cx14646.
• Right to Cancel – NOT a Refi. with Original Lender H-8 Cx8204 will also contain the copies from NPE Cx14354 and Trust Cx14357.
• Right to Cancel – Refinance with Original Lender H-9 Cx8205 will also contain the copies from NPE Cx14355 and Trust Cx14358.
• Right to Cancel – Refinance with Original Lender H-9 Cx8206 will also contain the copies from NPE Cx14356 and Trust Cx14359.
These changes will take affect September 1, 2012. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.
August 24, 2012