Pennsylvania Code
Title 10 - BANKING AND SECURITIES
Part IV - Bureau of Consumer Credit Agencies
Chapter 59 - MORTGAGE SERVICING
Section 59.4 - General disclosure requirements

(1) Form of disclosures. Except as otherwise provided in this chapter, disclosures required under this chapter must be clear and conspicuous, in writing and in a form that a recipient may keep. The disclosures required by this chapter may be provided in electronic form, subject to compliance with the consumer consent and other applicable provisions of the Electronic Signatures in Global and National Commerce Act (15 U.S.C. §§ 7001-7031), as set forth in 12 CFR 1024.3 (relating to E-Sign applicability). A servicer may use commonly accepted or readily understandable abbreviations in complying with the disclosure requirements of this chapter.

(2) Foreign language disclosures. Disclosures required under this chapter may be made in a language other than English, provided that the disclosures are made available in English upon a recipient's request.

(1) Optional notice with acknowledgment form. Upon confirmation, a servicer may provide a confirmed successor in interest who is not liable on the mortgage loan obligation with a written notice together with a separate acknowledgment form that meets the requirements of paragraph (c)(1)(iv) of this section and that does not require acknowledgment of any items other than those identified in paragraph (c)(1)(iv) of this section. The written notice must clearly and conspicuously explain that:

(2) Effect of failure to execute acknowledgment. If, upon confirmation, a servicer provides a confirmed successor in interest who is not liable on the mortgage loan obligation with a written notice and acknowledgment form in accordance with paragraph (c)(1) of this section, the servicer is not required to provide to the confirmed successor in interest any written disclosure required by 12 CFR 1024.17 (relating to escrow accounts), or § 59.5, § 59.6, § 59.9, or § 59.11 or to comply with the live contact requirements in § 59.11(a) (relating to early intervention requirements for certain borrowers) with respect to the confirmed successor in interest until the confirmed successor in interest either assumes the mortgage loan obligation under State law or executes an acknowledgment that complies with paragraph (c)(1)(iv) of this section and provides it to the servicer.

(3) Additional copies of acknowledgment form. If a servicer provides a confirmed successor in interest with a written notice and acknowledgment form in accordance with paragraph (c)(1) of this section, the servicer must make additional copies of the written notice and acknowledgment form available to the confirmed successor in interest upon written or oral request.

(4) Multiple notices unnecessary. Except as required by § 59.8, a servicer is not required to provide to a confirmed successor in interest any written disclosure required by 12 CFR 1024.17, or 59.5, 59.6, 59.9, or 59.11(b) if the servicer is providing the same specific disclosure to another borrower on the account. A servicer is also not required to comply with the live contact requirements set forth in § 59.11(a) with respect to a confirmed successor in interest if the servicer is complying with those requirements with respect to another borrower on the account.