When can we start the new disclosures?
The Loan Estimate, Closing Disclosure, and other relevant disclosures implemented by the rule are effective on October 3,
2015. They cannot be used until that date since the provisions governing their use are not effective until then.
Citation(s): Commentary ¶1(d)(5)-1
Disclaimer: The above information is intended for general information purposes with the goal of assisting Ellie Mae’s customers in complying with the new KBYO regulations. This information is provided as a courtesy to Ellie Mae’s customers and Ellie Mae makes no representation or warranty regarding the accuracy of the information set forth herein, and you may not rely on this information to ensure your company’s compliance with the KBYO regulations. This FAQ should not be construed as legal advice or opinion on any specific facts or circumstances, including the application of the KBYO regulations. You are advised to consult your own compliance staff or attorney regarding your specific residential mortgage lending questions or situation to ensure your compliance with all applicable laws and regulations.