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HELOC disclosure(s) and booklet(s)

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  • #11013
    kmeade
    Participant

    If a HELOC is an adjustable rate do you have to give the initial ARM disclosure and Adjustable-Rate Mortgage booklet with the required HELOC disclosures?

    #11023
    rcooper
    Member

    Great question. Section 1026.19(b) applies to all closed-end variable-rate transactions that are secured by the consumer’s principal dwelling and have a term greater than one year. You would provide the required HELOC disclosures.

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