No later than three business days before signing loan documents for a California covered loan, what consumer notice must the originator provide?
Correct Answer
A) The Consumer Caution and Home Ownership Counseling Notice
Financial Code section 4973 requires the Consumer Caution and Home Ownership Counseling Notice no later than three business days before signing loan documents. The prior legacy version overstated this as mandatory completed HUD counseling before consummation.
Why This Is the Correct Answer
Financial Code section 4973 requires the Consumer Caution and Home Ownership Counseling Notice no later than three business days before signing loan documents. The prior legacy version overstated this as mandatory completed HUD counseling before consummation.
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