Pennsylvania Code
Title 10 - BANKING AND SECURITIES
Part IV - Bureau of Consumer Credit Agencies
Chapter 47 - MORTGAGE LOAN MODIFICATIONS-STATEMENT OF POLICY
Section 47.3 - Provision of mortgage loan modification counseling to borrowers

Universal Citation: 10 PA Code ยง 47.3

Current through Register Vol. 54, No. 12, March 23, 2024

A licensee who wishes to provide mortgage loan modifications for mortgage loans other than those held or serviced by the licensee should do one of the following:

(1) Be approved as a counselor by a government agency or employed by a counselor approved by a government agency and follow the rules, regulations, policies and guidelines of the approving government agency.

(2) Verify and document that the borrower has received counseling regarding mortgage loan modifications from a counselor approved by a government agency.

This section cited in 10 Pa. Code § 47.5 (relating to improper activities regarding mortgage loan modifications).

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