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Mortgage Servicing and Loan Modifications: 12 C.F.R. § 1026.19 Certain mortgage and variable-rate transactions.

(a) Mortgage transactions subject to RESPA.

(1)(i) Time of disclosures. In a reverse mortgage transaction subject to both § 1026.33 and the Real Estate Settlement Procedures Act (12 U.S.C. 2601 et seq.) that is secured by the consumer’s dwelling, the creditor shall provide the consumer with good faith estimates of the disclosures required by § 1026.18 and shall deliver or place them in the mail not later than the third business day after the creditor receives the consumer’s written application.

Mortgage Servicing and Loan Modifications: 12 C.F.R. § 1026.20 Disclosure requirements regarding post-consummation events.

(a) Refinancings. A refinancing occurs when an existing obligation that was subject to this subpart is satisfied and replaced by a new obligation undertaken by the same consumer. A refinancing is a new transaction requiring new disclosures to the consumer. The new finance charge shall include any unearned portion of the old finance charge that is not credited to the existing obligation. The following shall not be treated as a refinancing:

(1) A renewal of a single payment obligation with no change in the original terms.

Mortgage Servicing and Loan Modifications: Section 1026.36(g) through (j)

(g) Name and NMLSR ID on loan documents. (1) For a consumer credit transaction secured by a dwelling, a loan originator organization must include on the loan documents described in paragraph (g)(2) of this section, whenever each such loan document is provided to a consumer or presented to a consumer for signature, as applicable:

(i) Its name and NMLSR ID, if the NMLSR has provided it an NMLSR ID; and

Mortgage Servicing and Loan Modifications: Amendment History—app. H

[76 Fed. Reg. 44,242 (July 22, 2011); 76 Fed. Reg. 79,772 (Dec. 22, 2011); 77 Fed. Reg. 69,738 (Nov. 21, 2012); 77 Fed. Reg. 70,114 (Nov. 23, 2012); 78 Fed. Reg. 11,008 (Feb. 14, 2013); 78 Fed. Reg. 44,718 (July 24, 2013); 78 Fed. Reg. 60,382 (Oct. 1, 2013); 78 Fed. Reg. 69,753 (Nov. 21, 2013); 78 Fed. Reg. 80,130 (Dec. 31, 2013); 80 Fed. Reg. 8776 (Feb. 19, 2015); 80 Fed. Reg. 32,687 (June 9, 2015); 80 Fed. Reg. 43,911 (July 24, 2015); 81 Fed. Reg. 25,325 (Apr. 28, 2016); 81 Fed. Reg. 72,390 (Oct. 19, 2016); 82 Fed. Reg. 30,948 (July 5, 2017); 86 Fed. Reg. 69,716 (Dec. 8, 2021)]

Mortgage Servicing and Loan Modifications: Rules for certain mortgage disclosures.

1. Rules for certain mortgage disclosures. Section 1026.17(a) and (b) does not apply to the disclosures required by § 1026.19(e), (f), and (g), and § 1026.20(e). For the disclosures required by § 1026.19(e), (f), and (g), rules regarding the disclosures’ form are found in §§ 1026.19(g), 1026.37(o), and 1026.38(t) and rules regarding timing are found in § 1026.19(e), (f), and (g). For the disclosures required by § 1026.20(e), rules regarding the disclosures’ form are found in § 1026.20(e)(4) and rules regarding timing are found in § 1026.20(e)(5).

Mortgage Servicing and Loan Modifications: 17(b) Time of Disclosures

1. Consummation. As a general rule, disclosures must be made before “consummation” of the transaction. The disclosures need not be given by any particular time before consummation, except in certain mortgage transactions and variable-rate transactions secured by the consumer’s principal dwelling with a term greater than one year under § 1026.19, and in private education loan transactions disclosed in compliance with §§ 1026.46 and 1026.47. (See the commentary to § 1026.2(a)(13) regarding the definition of consummation.)

Mortgage Servicing and Loan Modifications: 17(e) Effect of Subsequent Events

1. Events causing inaccuracies. Subject to § 1026.19(e) and (f), inaccuracies in disclosures are not violations if attributable to events occurring after the disclosures are made. For example, when the consumer fails to fulfill a prior commitment to keep the collateral insured and the creditor then provides the coverage and charges the consumer for it, such a change does not make the original disclosures inaccurate.