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What are loan disclosures as it relates to reverse mortgage lending? Is this a Federal guideline or NC specific?

April 26, 2017disclosures Federal guideline lending loan NC reverse mortgage

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What are loan disclosures as it relates to reverse mortgage lending? Is this a Federal guideline or NC specific?

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A. Loan disclosures should follow the Federal guidelines and NC specific statutes and administrative rules. 04 NCAC 03K .0501 REVERSE MORTGAGE LENDER APPLICATION DISCLOSURE (a) Authorized lenders shall disclose to the borrower all terms and conditions of the reverse mortgage loan in accordance with the Truth In Lending Act, RESPA, and Regulation Z, and any other applicable federal or state laws and regulations, including Total Annual Loan Cost. (see N.C.G.S.