As previously announced in REMN Wholesale Bulletin 14-03 issued January 9, 2014 REMN Wholesale will generate a Homeownership Counseling Disclosure with the initial lender disclosure package for loans with an application dated on or after January 10, 2014. This disclosure is a new CFPB requirement under the Homeownership Counseling Amendments to RESPA.

The Homeownership Counseling Disclosure must be signed by the borrower(s) to acknowledge receipt and included in the loan file.

Options for Delivery of Disclosure to REMN Wholesale

Option One – Include Disclosure with Loan Submission

The following is the preferred method for delivery of the Homeownership Counseling Disclosure to REMN Wholesale to avoid any delays with loan closing.

  • Broker provides the borrower with a copy of the Homeownership Counseling Disclosure, by using the Disclosure posted on the REMN Wholesale website at under “Forms & Docs”. A sample of the Disclosure is also provided with this Bulletin (Exhibit A).
  • Borrower(s) sign the Disclosure.
  • Broker includes signed Homeownership Counseling Disclosure in the loan submission package.

Option Two – Broker Returns Disclosure after Loan Submission

  • Borrower(s) sign the Disclosure that is sent with the REMN Wholesale initial disclosure package.
  • Broker is responsible to obtain the signed Disclosure from the borrower.
  • Broker submits the signed Disclosure to REMN Wholesale as early in the loan process as possible to avoid closing delays.

Loans cannot close until the signed Homeownership Counseling Disclosure has been received by REMN Wholesale

If you have any questions, please contact your Account Executive.