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#2012575 - 05/06/15 08:04 PM NMLSR Number
TryingtoComply Offline
Diamond Poster
Joined: Apr 2013
Posts: 2,211
The West
I need to confirm that Section 1026.36(g) (the requirement to provide the NMLSR on the primissory note and security agreement) only applies to closed-end loans. How can I demonstrate this to senior managment? They are under the impression that this also applies to our HELOC product.
Last edited by TryingtoComply; 05/06/15 08:05 PM.
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Lending Compliance
#2012581 - 05/06/15 08:09 PM Re: NMLSR Number TryingtoComply
Adam F Offline
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Adam F
Joined: Apr 2013
Posts: 420
VA
Read 1026.36(b)

This is the section on scope. It states

Paragraphs (d) through (i) of this section apply to closed-end consumer credit transactions secured by a dwelling.
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#2012619 - 05/06/15 08:56 PM Re: NMLSR Number TryingtoComply
TryingtoComply Offline
Diamond Poster
Joined: Apr 2013
Posts: 2,211
The West
Excellent! Thank you!
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