Get CA RE 883 2009-2024

A RE 882 Mortgage Loan Disclosure Statement (MLDS) is required by California law and must also be provided.

A RE 882 Mortgage Loan Disclosure Statement (MLDS) is required by California law and must also be provided. ❖ The information provided below reflects estimates of the charges you are likely to incur at the settlement of your loan.

The MLO will continue to work with you through the application process, into underwriting and help ensure you're ready for closing. Remember, an MLO can be a person or lending institution. While the loan officer is the person who works with you, the lender is the institution that initially funds the loan.

With the implementation of the new TILA-RESPA Integrated Disclosure Rule, brokers are reminded about the requirements regarding the Mortgage Loan Disclosure Statement (MLDS) under the Real Estate Law. The MLDS is a disclosure required under section 10240 Business and Professions.

What must be disclosed? Under California law, all material facts that affect the value or desirability of the property must be disclosed to the buyer. There is no specific definition or rule on what is considered to be a material fact.

A Closing Disclosure is a five-page form that provides final details about the mortgage loan you have selected. It includes the loan terms, your projected monthly payments, and how much you will pay in fees and other costs to get your mortgage (closing costs).

The CRMLA authorizes licensees to make federally related mortgage loans, to make loans to finance the construction of a home, to sell the loans to institutional investors, and to service such loans.

In California, Sellers also need to complete a (TDS) before completing the housing sale. The seller is required to use a prescribed list to disclose the condition of any property that will remain in the home after the close of sale and transfer.