For most loans applied for on or after Oct 3, 2015, the Loan Estimate and Closing Disclosure forms will be used.
For certain other loans the GFE and HUD-1 must be used.
An LE and CD are not used for the following loan types:
- Loans outside of the coverage of the Truth in Lending Act (defined as):
- Those made for business, commercial, agricultural or organizational credit
- Those made to an entity other than a natural person and certain types of trusts
- Reverse mortgages
- Home-equity lines of credit (HELOC’s)
Chattel dwelling loans (i.e. a mobile home not affixed to the land)
Loans made by a person who makes five or fewer mortgages in a year; and Certain no-interest loans secured by subordinate liens made for the purpose of down payment or
similar home buyer assistance, property rehabilitation, energy efficiency, or foreclosure avoidance or
prevention that meet certain requirements.