710 IAC 1-22-9 - Record maintenance
Authority: IC 23-2-1-15
Affected: IC 23-2-5-18
Sec. 9.
Any licensee who procures a residential mortgage loan shall include in the file of the borrower or potential borrower, in addition to the requirements set forth in IC 23-2-5-18(a)(1), the following to the extent the documents are originated by the licensee:
(1) The initial loan
application, signed and dated by the loan originator.
(2) The initial and any subsequent good faith
estimate provided by the licensee.
(3) A credit report, if obtained.
(4) Verification of the borrower's income and
employment as required by the initial lender.
(5) Any Truth in Lending Act
disclosure.
(6) A HUD-1 or HUD 1A
Settlement Statement signed by the borrower or borrowers and the initial lender
or settlement agent, if applicable.
(7) Affiliated business arrangement
disclosure statements provided to the borrower.
(8) A servicing transfer disclosure
statement.
(9) A right to receive
appraisal disclosure, if applicable.
(10) A right of rescission notice, if
applicable.
(11) An appraisal or
appraisals of the property obtained by the broker.
(12) Any commitment or rate lock-in
agreements, if applicable.
(13)
Copies of all notes or correspondence in whatever format, including electronic
and facsimile transmissions, with the following:
(A) Borrowers.
(B) Third party settlement service providers,
including the following:
(i)
Appraisers.
(ii) Title
agents.
(iii) Credit reporting
agencies.
(C)
Lenders.
(14) A record
of all charges or fees assessed to the borrower's account reflecting the
following:
(A) Amount of the charge or
fee.
(B) Purpose.
(C) Date imposed.
Notes
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