April 2011 Vol. 4, No. 3
 

Underwriters' Bulletin

Procedural Updates

Predatory Lending and HELOCs

Please note that Home Equity Lines of Credit (HELOCs) that are simultaneous to a first mortgage are now a new category in the dropdown menu on the state's predatory lending database website. The category is labeled "Simultaneous HELOC." This change means that we can obtain a separate certificate of exemption for a HELOC that is signed together with a first mortgage. Alternatively, we can still also record a simultaneous HELOC using a photocopy of the first mortgage's certificate of exemption.

If you have questions, please contact our APL Hotline,apl@atgf.comor 312.752.1984.

© ATG|Casenotes/Bulletin 1104_v4n3

[Last update: 4-22-11]

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