- The individual borrower files of a licensee shall contain at least the following:
- A mortgage origination agreement provided to the borrower containing at least the following statements:
- “As required by Mississippi Law, (licensed company name) has secured a bond issued by (name of insurance company), a surety company authorized to do business in this state. A certified copy of this bond is filed with the Mississippi Commissioner of Banking and Consumer Finance.”
- “As a borrower you are protected under the Mississippi S.A.F.E. Mortgage Act.”
- “Complaints against a licensee may be made by contacting the:
Mississippi Department of Banking and Consumer Finance
P.O. Drawer 12129
Jackson, MS 39236-2129″;
- A copy of the original loan application signed and dated by the licensee;
- A copy of the signed closing statement as required by HUD or documentation of denial or cancellation of the loan application;
- A copy of the good-faith estimate of costs provided to the borrower;
- A copy of the appraisal or statement of value if procured as a part of the loan application process;
- A copy of a loan lock-in agreement, if any, provided by the licensee;
- A copy of the disclosures required under Regulation Z of the federal Truth In Lending Act and other disclosures as required under federal regulations and evidence that those disclosures have been properly and timely made to the borrower; and
- A copy of the final signed Uniform Residential Loan Application. However, any mortgage licensee who holds a license under the provisions of the Small Loan Regulatory Law, Section 75-67-101 et seq., and the Small Loan Privilege Tax Law, Section 75-67-201 et seq., may substitute an application that is otherwise compliant with federal and state law.
- Additional information as required per the rules and regulations adopted by the commissioner according to Section 81-18-29.
- A mortgage origination agreement provided to the borrower containing at least the following statements:
- The individual servicer files of a licensee shall contain at least the following:
- A copy of the original initial loan application signed and dated by the licensee;
- A copy of the final loan application signed and dated by the licensee;
- A copy of the signed closing statement as required by HUD or documentation of denial or cancellation of the loan application;
- Modification agreements;
- Collection/default letters and related documentation;
- Addendums, riders, assigned note, if applicable;
- Complete pay history from the time the loan was transferred or boarded;
- Complete comment/note history from the time the loan was transferred or boarded; and
- Additional information as required per the rules and regulations of this chapter as deemed by the commissioner according to Section 81-18-29.
