Mortgage transfer disclosures.

CFR · 2024-01-01 · US · Title 12

(a) (1) A “ (2) A “ (i) An open-end consumer credit transaction that is secured by the principal dwelling of a consumer; and (ii) A closed-end consumer credit transaction secured by a dwelling or real property. (b) (1) (2) (3) (4) (5) (c) (1) The covered person sells, or otherwise transfers or assigns legal title to the mortgage loan on or before the 30th calendar day following the date that the covered person acquired the mortgage loan which shall be the date of transfer recognized for purposes of paragraph (b)(2) of this section; (2) The mortgage loan is transferred to the covered person in connection with a repurchase agreement that obligates the transferor to repurchase the loan. However, if the transferor does not repurchase the loan, the covered person must provide the disclosures required by this section within 30 days after the date that the transaction is recognized as an acquisition on its books and records; or (3) The covered person acquires only a partial interest in the loan and the party authorized to receive the consumer's notice of the right to rescind and resolve issues concerning the consumer's payments on the loan does not change as a result of the transfer of the partial interest. (d) (1) The name, address, and telephone number of the covered person. (i) If a single disclosure is provided on behalf of more than one covered person, the information required by this paragraph shall be provided for each of them unless paragraph (d)(1)(ii) of this section appli

official document · source cfr-2024 · id 12:§ 1026.39