The Rhode Island Home Loan Protection Act Disclosure Tangible Net Benefit form has been modified. The logic that triggers the “RECEIPT OF CASH IN EXCESS OF THE COSTS AND FEES” checkbox to be marked has been refined to look at both the HUD-1A and HUD-1 Cash to Borrower amounts when applicable, instead of only the HUD-1A amount.
In addition, a signature area for the “Creditor’s Authorized Representative” has been added to the form in order to match Form 3 HLPA as posted at http://www.dbr.ri.gov/documents/rules/banking_securities/Form3_HLPA.pdf
These changes will take effect on February 21, 2013. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.
February 14, 2013