Why don't you prepare the ASF for MLOs?

The Truth In Lending Act (TILA) Regulation Z, is in place to protect the interest of consumers, prohibiting MLOs from "steering", influencing, advising, counseling or directing their clients to accept the terms offered by a particular lender that might offer the MLO greater compensation, unless the actual loan is in the best interest of the borrower. By the time we receive the loan to be processed, a lender has already been chosen, therefore, we require our MLOs to provide the Anti Steering Form already filled out, as well as the lender's rate sheets for the corresponding day. We will integrate this form to the initial disclosures package to collect the borrowers' signature. The Anti Steering Form, Rate Sheets, and Fees Worksheet will be included in the broker's compliance stacking order as needed. The MLO is responsible for all supporting documents used to arrive at that lender. (MLOs that use LoanSifter or similar software, are encouraged to save the results on their due diligence file).

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