SECTION .0500 - DISCLOSURE REQUIREMENTS
04 NCAC 03K .0501 REVERSE MORTGAGE LENDER APPLICATION
(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
History Note: Authority G.S. 53-259; 53-264; 53-265(a);
Eff. January 1, 1995.