The following are a list of documents that Grand Valley Co-op Credit Union will require in each construction loan package:
Borrowers Authorization to Release Information - one for Grand Valley, and one for the mortgage company or broker the package is coming from
Required Use Disclosure - The applicant signs this as it states they have reviewed the list of providers of settlement services that the mortgage/broker company use
Patriot Act Disclosure
Consumers Caution and Home Ownership Counseling Notice
Borrowers Bill of Rights
Appraisal Disclosure
Audit Disclosure
Equal Credit Opportunity Notice
Privacy Notice
Servicing Disclosure
Mortgage Loan Origination Agreement
Good Faith Estimate
Preliminary Truth In Lending
Arm disclosure - if the borrower is approved for an arm loan, this disclosure must also be included in the package.
Signed application
These are documents that are required by state law. A mortgage broker or lender must disclose this information to the potential borrower at application. These are documents that are effective today in 2007.