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Are two separate sets of disclosures required when brokering a first and second mortgage loan to an applicant simultaneously?

April 26, 2017applicant brokering disclosures loan second mortgage separate simultaneously

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Are two separate sets of disclosures required when brokering a first and second mortgage loan to an applicant simultaneously?

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Two separate sets of disclosures must be executed by the borrower if fees are received and retained by the broker in connection with both loans – one for the first mortgage and separate disclosures for the second mortgage.