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State-Specific Disclosures: Residence State?

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Are state-specific disclosures (such as home equity or ARM, etc.) specific to the borrower's residence state or the state of the originating bank is? If a borrower crosses a state line to use a branch nearer their home or a borrower is buying a vacation home in another state and goes to a bank in that state, which state applies to the disclosures?

It will all be based on State law, but typically the laws of the State in which the property is located will prevail.

First published on 11/20/2016

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