Section .0500 - Disclosure Requirements

Link to law: http://reports.oah.state.nc.us/ncac/title 04 - commerce/chapter 03 - banking commission/subchapter k/04 ncac 03k .0501.html
Published: 2015

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SECTION .0500 - DISCLOSURE REQUIREMENTS

 

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.

(b)  The items required to be disclosed by Paragraph (a) of

this Rule may be incorporated into one or more forms required by State or

Federal law, rules or regulations, or such items may be contained on a separate

form.

 

History Note:        Authority G.S. 53-259; 53-264; 53-265(a);

53-271(a);

Eff. January 1, 1995.