Revised Notice of Servicing Disclosure

Dear Mortgage Lenders,

As part of their recent revision of RESPA regulations,  HUD has revised the Servicing Disclosure Statement Notice to First Lien Mortgage Loan Applicants, which notice is given to first lien mortgage loan applicants at the time of application or within 3 business days after receipt of application.   The effective date is January 16, 2009.

The disclosure set out below is taken verbatim from Appendix MS-1 to the revised Regulations.  The disclosure does not have to be signed by the applicant.

If you have any questions, please feel free to call me or Karen Miller.

Morton Baird | 210 828 5844 | mbaird@bairdlaw.com

 

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Posted in Real Estate Law