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#1977811 - 11/20/14 05:39 PM Individual State Mortgage Disclosures-Bank Origin
LisSinToMe Offline
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Joined: Oct 2014
Posts: 9
What are the requirements for STATE Mortgage Disclosures? We lend in most states but some more than others so it is harder to keep up with.

Do we need to issue the disclosures that each state requires when lending there? We have an exemption in MD because we are a state chartered bank with branches in the state (so many of the MD disclosure reqs don't pertain to us)

I am at a small community bank and there is no legal dept and the "Compliance Dept" is one person that is more in tune with savings and branch type of compliance then with mortgage compliance (they only began doing mortgages in the past couple of years but we will close at least 2000 this year)

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#1977872 - 11/20/14 07:05 PM Re: Individual State Mortgage Disclosures-Bank Origin LisSinToMe
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 47,517
Bloomington, IN
What are the requirements for STATE Mortgage Disclosures?

You will have to research each state's law that you will be doing business in or hire a attorney or consultant to do it for you if you cannot find an Internet source with each state listed. I personally am not aware of any such source.
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The opinions expressed are mine and they are not to be taken as legal advice.

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