Forms needed for Non-traditional Mortgage Origination

[Lupe Santiago]

Hello! Kind of a simple question here so maybe someone can help me answer it. If a broker brings me a loan for an interest-only, short-term note that balloons, which forms does that broker need to provide to me, the originator?

It seems to me that the broker needs to provide a form DRE 851A (Lender/Purchaser Disclosure Statement for Loan Origination)

and also a form DRE 885 (Mortgage Loan Disclosure Statement/Good Faith Estimate, Nontraditional Mortgage product)

Is this correct? Thanks!