Disclosure Compliance Timeline and Tracking Calculations

Loan Estimate and Closing Disclosure Tracking Dates

2015 Disclosure Tracking Tool

This help topic describes the calculations for disclosure-related dates for disclosure forms required under revised RESPA-TILA disclosure regulations effective October 3, 2015. To view the help topic for the disclosure calculations for the 2010 disclosure forms (2010 Itemization, GFE, REGZ-TIL, and Closing RegZ form), refer to the 2010 Disclosure Compliance Timeline and Tracking Calculations help topic.

The Compliance Timeline section on the Disclosure Tracking tool provides date fields that show when the loan application was received, when the first disclosure was sent to the borrower, when the borrower indicated an intent to proceed, the earliest fee collection date, the earliest closing date, and the estimated closing date. The LE Tracking and CD Tracking sections provide date fields that enable you to track when the initial Loan Estimate and Closing Disclosure were sent and received by the borrower and when revised Loan Estimate and Closing Disclosure forms were sent and received. The Other Tracking section allows users to type or select dates when additional forms were sent to the borrower.

Many of the fields are automatically calculated in accordance with the Real Estate Settlement Procedures Act (RESPA) regulations effective October 3, 2015. Below are the methods used to enter dates in the calculated fields.

The Intent to Proceed date, Estimated Closing date, and the fields in the Other Tracking section are not calculated, but are populated from other Encompass fields or entered manually.

Compliance Timeline

LE Application	Date that all of the default Send Initial Disclosure trigger fields are populated: Borr First Name (Field ID 4000), Borr Last Name (4002), Borr SSN (65), Total Monthly Income (736), Subject Property Street Address (11), City (12), State (14), Zip (15), Estimated Value (1821), and Loan Amount (1109). When all of these fields contain values, there is sufficient information to complete the application.
LE Due	This date is three days after the LE Application date. A "day" is any day lender is open to conduct business according to the Our Company Calendar in the Compliance Calendar setting. According to 2015 RESPA-TILA regulations, the next business day after the LE Application date (field ID 3142) is considered day one when calculating the LE Due date. However, Encompass administrators may use the Disclosure Tracking Settings tool to include the LE Application date in the LE Due calculation (i.e., the LE Application date is considered day one). The Loan Estimate must be delivered or sent before the end of Day 3.
eConsent	This field is populated when the borrower or borrowers access a secure website and agree to receive the loan documents electronically.
Intent to Proceed	The date you determine the borrower intends to proceed with the loan. This field is populated from the Received Date (field ID 3197) on the Loan Estimate Page 1 input form.
Earliest Fee Collection	One of the following two dates: The date you determine that the borrower intends to continue with the loan (field ID 3197). The date when the borrower receives the Loan Estimate. The receipt date is set as the date the fax was sent, the date the email was opened, 3 days after the Loan Estimate was mailed, or 1 day after it was sent by overnight delivery. This date is calculated using the Reg-Z Business Day Calendar in the Compliance Calendar setting.
Earliest Closing	The following calculations are used to determine this date: If an initial Loan Estimate has been sent, the Earliest Closing date is the LE Sent date (field 3152) plus 7 days, based on the Reg-Z Business Day Calendar in the Compliance Calendar setting. If a revised Loan Estimate has been sent but not received (the Revised LE Received date is in the future), the Earliest Closing date is the Revised LE Sent date (field 3154) plus 7 days, based on the Reg-Z Business Day Calendar in the Compliance Calendar setting. The Revised LE Sent date is not counted as one of the 7 days. If a revised Loan Estimate has been sent and received, the Earliest Closing date is the Revised LE Received date (field 3155) plus 3 days, based on the Reg-Z Business Day Calendar in the Compliance Calendar setting. The Revised LE Received date is not counted as one of the 3 days. If an initial Closing Disclosure has been sent but not received, the Earliest Closing date is the CD Sent date (field 3977) plus 6 days, based on the Reg-Z Business Day Calendar in the Compliance Calendar setting. The CD Sent date is not counted as one of the 6 days. If an initial Closing Disclosure has been sent and received, the Earliest Closing date is the CD Received date (field 3978) plus 3 days, based on the Reg-Z Business Day Calendar in the Compliance Calendar setting in the Compliance Calendar setting. The CD Received date is not counted as one of the 3 days. If a revised Closing Disclosure has been sent and Change in APR, Change in Loan Product, or Prepayment Penalty Added has been selected on the Disclosure Details window as the reason for the revised Closing Disclosure: If the revised Closing Disclosure has been sent but not yet received (the Revised CD Received date is in the future), the Earliest Closing date is the Revised CD Sent date (field 3979) plus 6 days, based on the Reg-Z Business Day Calendar in the Compliance Calendar setting. The Revised CD Sent date is not counted as one of the 6 days. If a revised Closing Disclosure has been sent and received, the Earliest Closing date is the Revised CD Received date (field 3980) plus 3 days, based on the Reg-Z Business Day Calendar in the Compliance Calendar setting. The Revised CD Received date is not counted as one of the 3 days. The Earliest Closing date is re-calculated when: A revised Loan Estimate is excluded or included. A revised Closing Disclosure disclosed due to any of the reasons listed above (Change in APR, Change in Loan Product, or Prepayment Penalty Added) is excluded or included. A "day" is any day lender is open to conduct business according to the Reg-Z Business Day Calendar in the Compliance Calendar setting. If a revised Loan Estimate or Revised CD (with a change of circumstance caused by an APR change, loan product change, or additional prepayment penalty) is disclosed, the calculations described above use the Revised LE Sent, Revised LE Received, Revised CD Sent, and Revised CD Received dates instead.
Estimated Closing	This date is populated from the Estimated Closing Date in the loan file (field ID 763), but the date can be edited.
Disclosure Tracking Timezone	Indicates the time zone being used for the time and date calculations in the loan file. The time zone indicated here is based on the time zone indicated in field LE1.X9. The default value for this field is determined by the Closing Costs Expiration Time Zone setting (Encompass Settings > Loan Setup > Disclosure Tracking Settings > Compliance Timeline Calculation for RESPA-TILA.). Additionally, LE1.X9 is used to evaluate calculated dates based on the values stored in the Disclosure Tracking tool in order to calculate timeline fields (LE Sent, LE Received, CD Sent, CD Received).

LE Tracking

LE Sent	The date when the earliest version of the Loan Estimate is sent to the borrower, ignoring Loan Estimates that were excluded from the timeline in the Disclosure Tracking Tool.
LE Received	The date the borrower received the Loan Estimate. The calculation for this date varies based on the delivery method. In Person or Fax - The date sent. Email, U.S. Mail, or Other - Three days after the date sent unless the Actual Received Date is selected manually. eDisclosures - For detailed information about how this date is populated for eDisclosures, refer to the Loan Estimate and Closing Disclosure Tracking Dates white paper.
Revised LE Sent	The LE Sent date for the most recently sent Loan Estimate. This field is blank if there is only one Loan Estimate being tracked in the Disclosure Tracking tool.
Revised LE Received	The date the borrower received the most recently sent Loan Estimate. The calculation for this date varies based on the delivery method. In Person or Fax - The date sent. Email, U.S. Mail, or Other - Three days after the date sent unless the Actual Received Date is selected manually. eDisclosures - For detailed information about how this date is populated for eDisclosures, refer to the Loan Estimate and Closing Disclosure Tracking Dates white paper.
SSPL Sent	Sent Date of the earliest Settlement Service Providers List with a tracking record not excluded from the timeline. If the Settlement Service Providers List and Loan Estimate are disclosed together, the date is the Sent Date of the earliest Loan Estimate not excluded from timeline. If the Settlement Service Providers List and the Closing Disclosure are disclosed together, the date is the Sent Date of the earliest Closing Disclosure not excluded from timeline.

CD Tracking

CD Sent	The date when the earliest version of the Closing Disclosure is sent to the borrower, ignoring Closing Disclosures that were excluded from the Disclosure Tracking timeline.
CD Received	The date when the borrower received the Closing Disclosure. The calculation for this date varies based on the delivery method. In Person or Fax - The date sent. Email, U.S. Mail, or Other - Three days after the date sent unless the Actual Received Date is selected manually. eDisclosures - For detailed information about how this date is populated for eDisclosures, refer to the Loan Estimate and Closing Disclosure Tracking Dates white paper.
Revised CD Sent	The CD Sent date for the most recently sent Closing Disclosure. This field is blank if there is only one Closing Disclosure being tracked in the Disclosure Tracking tool.
Revised CD Received	The date when the borrower received the most recently sent Closing Disclosure. The calculation for this date varies based on the delivery method. In Person or Fax - The date sent. Email, U.S. Mail, or Other - Three days after the date sent unless the Actual Received Date is selected manually. eDisclosures - For detailed information about how this date is populated for eDisclosures, refer to the Loan Estimate and Closing Disclosure Tracking Dates white paper.
Post Consummation Disclosure Sent	The Sent Date from the Details tab in the Disclosure Details window for the most recent Closing Disclosure with the Disclosure Type Post Consummation option selected (on the Details tab in the Disclosure Details window).
Post Consummation Disclosure Received	The latest of the following dates from the Document Details window for the most recent Post Consummation Closing Disclosure that has not been excluded from timeline: Borrower Presumed Received Date, Borrower Actual Received Date, Co-Borrower Presumed Received Date, or Co-Borrower Actual Received Date. The date is recalculated when the Disclosure Type is modified or when a Post Consummation Disclosure is included in or excluded from the timeline.

Other Tracking

The dates in this section must be entered manually or selected from the calendar provided for each field.

Affiliated Business Disclosure Provided	The date an Affiliated Business Arrangement Disclosure is provided to the borrower (i.e., the date sent via U.S. Mail, the date delivered face to face, etc.)
CHARM Booklet Provided	The date the licensee provided the Consumer Handbook on Adjustable Rate Mortgages (CHARM) or a suitable substitute at the time of application. If the application is sent via U.S. Mail this disclosure must be included in the packet.
Special Info Booklet Provided	The date that HUD's Special Information Booklet is sent to the borrower. If sent via U.S. Mail, the booklet is deemed received by the end of the third day after the booklet is sent. A "day" is any day of the week excluding Sundays and Legal Holidays according to the U.S. Postal Calendar in Compliance Calendar setting.
HELOC Brochure Provided	The date the Special Brochure for Open-Ended Credit Plans is sent to the borrower.
1st Appraisal Provided	The date the first completed appraisal is sent to the borrower.
Subsequent Appraisal Provided	The date the second completed appraisal is sent to the borrower.
AVM Provided	The date the automated valuation model report is sent to the borrower. According to CFPB regulations, the AVM must be provided within a week after its receipt and with sufficient time before consummation (or account opening for open-end credit).
Home Counseling Disclosure Provided	The date home counseling information is sent to the borrower. According to CFPB regulations, lenders are required to provide a list of home ownership counseling organizations to consumers by the end of the third business day after they apply for a mortgage loan, with the exclusion of reverse mortgages and mortgage loans secured by a timeshare.
High Cost Disclosure	The date the High Cost disclosure is signed. Under Reg Z, a creditor must furnish the Federal High Cost Section 32 disclosures at least three business days before consummation. Section 32 Disclosures are considered furnished when received by the consumer, which would be documented by the consumer's signature.

Disclosure Compliance Timeline and Tracking Calculations

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