Delaware Administrative Code
Title 5 - Banking
2100 - Mortgage Loan Brokers
2103 - Mortgage Loan Broker Regulations Itemized Schedule of Charges
Section 2103-1.0 - Itemization of Charges
Universal Citation: 5 DE Admin Code 2103-1.0
Current through Register Vol. 28, No. 3, September 1, 2024
1.1 Each licensee shall maintain an itemization of the current charges that the licensee uses in consumer transactions. The itemization shall identify all charges that the licensee may collect from an applicant or borrower for a particular type of transaction, including a credit report fee, any broker origination fees, or other third-party fees. The itemization must be dated as of the most recent change in any charge and may contain value ranges to reflect the different costs of credit that may vary with risk or rate.
1.2 Each licensee shall furnish every applicant with a copy of its itemization of charges when the application is made.
1.2.1 An explanation of the contents of the itemization satisfies this requirement for telephone applications.
1.2.2 Website screens containing the itemization satisfy this requirement for electronic applications. The applicant must affirmatively acknowledge receipt of these screens before completing an application.
1.2.3 A Good Faith Estimate issued in accordance with the Federal Real Estate Settlement Procedures Act, as amended, satisfies this requirement for real estate secured transactions covered by that statute.
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