HELOC disclosure(s) and booklet(s)

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Tagged: ARM, Booklets, HELOC

This topic has 1 reply, 2 voices, and was last updated 6 years, 11 months ago by rcooper.

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May 9, 2017 at 3:24 pm EDT #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?

May 10, 2017 at 9:32 pm EDT #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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