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Are there any disclosure requirements to loan applicants?

April 26, 2017APPLICANTS disclosure loan requirements

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Are there any disclosure requirements to loan applicants?

1 Answer

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Yes, a mortgage banker is required to include the following notice to a mortgage loan applicant with every application for a mortgage loan taken after January 1, 2004: COMPLAINTS REGARDING MORTGAGE BANKERS SHOULD BE SENT TO THE TEXAS SAVINGS AND MORTGAGE LENDING DEPARTMENT, 2601 N. LAMAR, SUITE 201, AUSTIN, TX, 78705. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 877-276-5550.