Point User Guide
137
Disclosures
Application Log (NY)
The state of New York requires that bankers and brokers keep track of their records for
three years by using this log.
Brokerage Contract (FL)
When processing Florida loans, check with your legal counsel to determine if you must
complete this form. The Mortgage Brokerage Contract for Florida explains the rights and
obligations of the borrower and the mortgage brokerage acting on behalf of the borrower
to ensure a loan commitment.
CA Fair Lending Notice Disclosure (CA)
The Fair Lending Notice is a disclosure notice to borrowers based on the Housing
Financial Discrimination Act of 1977.
It discloses to borrowers that is illegal to discriminate on financial assistance, based on the
following:
•
Neighborhood characteristics
•
Neighborhood conditions
•
Race
•
Ethnicity
•
Religion
•
National origin
Refer to the form for the exact wording. The applicant’s name and property information is
populated from other forms in the borrowers’ file, and prints on this disclosure. The name
and address of the local agency responsible for enforcing the Discrimination Act is taken
from the defaults that you set up in the
Utilities
menu.
Lender Disclosure (FL)
The Florida Lender Disclosure explains if any application, credit reporting, appraisal, or
other fees are refundable to the borrower. It also lists any obligations that the lender has to
the borrower.
The borrower’s name, property address, file name, and the date are populated from the
Borrower
or
Prospect Information
screens.
Mortgage Broker Disclosure (TX)
The
Mortgage Broker/Loan Officer Disclosure
clarifies the relationship between the
mortgage broker or loan officer and the borrower.
The file name, property address, and mortgage broker or loan officer’s name are
populated from the
Prospect
or
Borrower Information
screens.
Mortgage Loan Disclosure Statement—MLDS/GFE (CA)
Loan transactions usually require a federal Good Faith Estimate (GFE) under the Real
Estate Settlement Procedures Act (RESPA).
Related information
For more information about setting the Fair Lending defaults, see
Specifying the CA Fair Lending address
, on page 41.