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Answers (4)
- long john
- Contributions:2
thanks for all the good answers I haven't seen one yet but I will know when I apply for a mortgage.
- Patricia Ballowe, "Tricia Ballowe"
- Contributions:5
An anti-steering disclosure is a required document that shows the other available rates and programs that were available to the borrower at the time of locking their rate. It shows the costs of those rates and programs as they compare to the rate the borrower has locked. It is designed to make sure the loan officer has not deliberately 'steered' the borrower toward a loan that is less advantageous to the borrower.
Remember those rates and programs may vary from the lowest rate with the most costs to a possible adjustable rate which may not be what the borrower wished to lock in to. They should never show a rate or program with negative amortization or balloon payments.
Remember those rates and programs may vary from the lowest rate with the most costs to a possible adjustable rate which may not be what the borrower wished to lock in to. They should never show a rate or program with negative amortization or balloon payments.
- Michael Emery, "MikeEmery"
- Contributions:7298
I found an anti -steering disclosure on a lenders website. It seems to be more involved with not steering a borrower into a specific loan that might benefit the lender over the borrower. The link button is broken on Zillow, but here's the URL you can cut and paste.
http://www.oaktreefunding.com/forms/Anti-Steering%20Disclosure%20and%20Acknowledgement.pdf
I am not affiliated with Oaktree Funding. The attached PDF is only used as an example and should not be considered an endorsement of OakTree Funding (which would be a violation of Zillows Terms of Service)
http://www.oaktreefunding.com/forms/Anti-Steering%20Disclosure%20and%20Acknowledgement.pdf
I am not affiliated with Oaktree Funding. The attached PDF is only used as an example and should not be considered an endorsement of OakTree Funding (which would be a violation of Zillows Terms of Service)
- sunnyview
- Contributions:25139
I don't know. Steering is not legal under Federal Fair Housing Law so I am not sure why a special disclosure would be required. Maybe it's a specific of your state law or the local RE Board. What does it say and who is presenting it to you, an agent or lender or ?
What is an anti steering disclosure
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