DocuTech Compliance Specialist Alex Parker just published a very informative article entitled “Using Worksheets In Initial Disclosure Packages,” which I definitely recommend reading:
“A worksheet is a document used by loan originators that provides information about fees and interest rates associated with a mortgage loan. The document may also be used to give the borrower information that is not contained in the new GFE such as the overall cost of the transaction or the estimated amount the borrower will need to bring to the closing. Many lenders and borrowers have been frustrated by the lack of information included on the new GFE and have decided that worksheets are the best way to provide additional information about the transaction. “
Read the full article on initial disclosure worksheets here.
