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Right to Rescind H-9 form & "Original Lender"

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Question: 
A question has come up about when to use of the Right to Rescind H-9 form and who is the "original lender". Here is my scenario: The Original Lender, ABC Bank, closed the loan and is on the original Note and Mortgage. They immediately sold it to XYZ Company, and XYZ Company reports the mortgage to the credit bureau and is now going to refinance the existing Mortgage. Does XYZ Company have to use a Right to Rescind Model H-9 form because it is the Current Lender and the payoff is coming from them, or is the H-9 form only used for the Original Lender on the Original Note/Mortgage? I cannot find a concrete answer, I did notice that the H-9 form seemed to have changed. It did say Original Lender but newer versions seem to say Current Lender, but I don't know if this is in the regulation.
Answer: 

4. New advances. The exemption in §1026.23(f)(2) applies only to refinancings (including consolidations) by the original creditor. The original creditor is the creditor to whom the written agreement was initially made payable.

First published on 07/07/2019

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