Question: i need steps 2,3 and 5 Scenario Part 2 Stella has all the information she needs to process the loan application (either because she had

Scenario Part 2 Stella has all the information she needs to process the loan application (either because she had all of the information necessary in the application or Armand sent over pertinent missing information). Stella plans to send Armand important documents electronically. What are the next steps for Stella, assuming the application will be approved? (Remember to include the names of the acts associated with each step or action.) u have now listed two of the steps and 1 of the 3 most critical. You are still issing 2 very critical steps. Before a loan estimate application can be submitted review and approval. We are NOT looking for any of the disclosures in these steps. This is NOT a loan, and no closing disclosures, settlement costs, and other general notices. initial privacy notice. This notice is not required until the customer relationship begins, which would be when Stella originates the loan (Gramm-Leach-Bliley Act). How do you know who he says he is? How do you know if he will even be eligible? What other time-sensitive document must be sent once the application has been processed? Once Stella has all of the information, she will need to: 1. Obtain Armand's informed consent allowing her to send him documents electronically before sending anything [E-SIGN Act U.S.C 15 7001(c)(1)] 2. 3. 4. Deliver a Loan Estimate within three business days to Armand (TILA/RESPA) 5
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