HELOCS APPLICATION DISCLOSURE Form Electronic Applications - - PowerPoint PPT Presentation

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Dec 26, 2022 386 likes •475 views

HELOCS APPLICATION DISCLOSURE Form Electronic Applications Timing CONTENT Retention Information Conditions for disclosed terms Security Interest and Risk to Home Possible Actions by the creditor

SLIDE 1

HELOCS

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¡ Form ¡ Electronic Applications ¡ Timing

APPLICATION DISCLOSURE

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¡ Retention Information ¡ Conditions for disclosed terms ¡ Security Interest and Risk to Home ¡ Possible Actions by the creditor ¡ Payment Terms ¡ APR ¡ Fees Imposed by the Creditor ¡ Fees Imposed by Third Parties ¡ Negative Amortization ¡ Transaction Requirements ¡ Tax Implications ¡ Variable Rate Disclosures ¡ Brochure

CONTENT

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¡ Rate Changes ¡ Plan Termination ¡ Change in Terms ¡ Prohibiting Extensions of Credit ¡ Refund of Fees ¡ Imposition of Nonrefundable Fees

LIMITATIONS

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¡ Finance Charge ¡ Other Charges ¡ Disclosures from the Application Disclosure ¡ Security Interest ¡ Statement of Billing Rights

ACCOUNT OPENING DISCLOSURES

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¡ Previous Balance ¡ Identification of Transactions ¡ Credits ¡ Periodic Rates ¡ Balance on which the Finance Charge is Computed ¡ Amount of Finance Charge ¡ Other Charges ¡ APR ¡ Grace Period ¡ Address for Billing Errors ¡ Closing Date of Billing Cycle

PERIODIC STATEMENTS

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¡ General Rules ¡ Timing ¡ Exceptions ¡ Restrictions Due to Special Circumstances

CHANGE IN TERMS

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¡ Applicable Transactions ¡ Definition of Dwelling ¡ Procedure ¡ Notice ¡ Time Period ¡ Expanded Rescission Period ¡ Member and Credit Union Actions ¡ Waiver