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Is this the only way we can comply. We have covered borrowers that are currently stationed out of state. They have a Power of Attorney to sign the loan documents, but to send out the Closing Disclosure and the covered borrower statement we are wanting to send via Esign and call the borrowers to go over the disclosures. Does this comply?
To comply with the oral disclosure requirement, the bank may:
Provide the oral disclosure to the covered borrower in person, or
Provide a toll-free telephone number to deliver the oral disclosures to a covered borrower. The
toll-free number must be included on:
The application, or
With the written statement of the MAPR.
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