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Can the review of the Tangible Net Benefit form with borrowers be done over the telephone, or must the review be face-to-face?

April 26, 2017benefit borrowers Face-to-Face form NET review Tangible telephone

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Can the review of the Tangible Net Benefit form with borrowers be done over the telephone, or must the review be face-to-face?

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• The form should be signed in person at the time it is explained to the borrower; otherwise, the import of the form may be lost. However, neither the law nor the rule requires a face-to-face explanation of the form at the time of signing.