As previously announced in HomeBridge Bulletin 14-03 issued January 9, 2014 HomeBridge will generate a Homeownership Counseling Disclosure with the initial lender disclosure package for loans with an application dated on or after January 10, 2014. This disclosure is a new CFPB requirement under the Homeownership Counseling Amendments to RESPA.
The Homeownership Counseling Disclosure must be signed by the borrower(s) to acknowledge receipt and included in the loan file.
Options for Delivery of Disclosure to HomeBridge
Option One – Include Disclosure with Loan Submission
The following is the preferred method for delivery of the Homeownership Counseling Disclosure to HomeBridge to avoid any delays with loan closing.
• Broker provides the borrower with a copy of the Homeownership Counseling Disclosure, by using the Disclosure posted on the HomeBridge website at www.homebridgewholesale.com under “Forms