The CFPB has updated the “What you should know about home equity lines of credit” brochure (HELOC Brochure).  The updated HELOC Brochure, available in both English and Spanish, is meant to be more concise and to improve readability and usability.

The HELOC Brochure must be provided to applicants of HELOCs at the time of application.

You can access the HELOC Brochure Federal Register notice here.

You can access the English and Spanish versions here.

CCI suggests sharing this information with your lending team.  As always, CCI is available for any questions regarding this update.

Sincerely,

Sarah Smith, CRCM, CAFP