Hi. I understand that the Lender needs to complete the URLA-Lender Loan Info doc as part of the residential loan ap. Are we required to complete this, discuss it with the applicant(s), and give the applicant(s) a copy of it or does it just stay in our file with the ap? Thanks in advance for your help!
Since it is a part of the application and includes information about them and their specific loan request, it should be provided to them and probably explained as well. It’s not spelled out anywhere, but some of the info overlaps with TRID info and needs to match in order to avoid any UDAP/UDAAP concerns.