[Nichole]

If just amending application, do all early disclosure need to be executed or just redisclosure documentation?

[Nichole]

Question: we have a Bridge loan on our books and doing a rate/term refinance. Is the H-9 form required? We have done similar transactions more than I can count, and have always used the general H-8 form, but this time we have an investor stating the H-9 form is required.
From researching information on the H-9 form, this form should be used for transactions when they are increasing the amount of credit on the previous loan that is on our books. Giving the customer the right to rescind the increase and return the funds. Form H-8, being the general form, is used as it is a new transaction, not increasing credit, and give the customer the right to rescind the new transaction.

Am I correct in the thoughts on which for should be used, and that the H-9 should not be required? THANK YOU!

[Author]

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