New Mexico Administrative Code
Title 12 - TRADE, COMMERCE AND BANKING
Chapter 19 - MORTGAGE LENDING
Part 2 - MORTGAGE LOAN ORIGINATOR REQUIREMENTS
Section 12.19.2.13 - DISCLOSURES
Universal Citation: 12 NM Admin Code 12.19.2.13
Current through Register Vol. 35, No. 18, September 24, 2024
At least two (2) days prior to closing, a mortgage loan originator shall provide to the borrower(s) the following federal disclosures specific to the mortgage loan the borrower(s) is receiving:
(1) a good faith estimate and
(2) a truth in lending statement. These documents shall be used to comply with Section 58-21B-20(B) NMSA 1978. For the purposes of the act, the yield spread premium or discount points received by the mortgage loan company shall be disclosed as a credit or charge in a dollar amount on all good faith estimates.
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