24 N.C. Admin. Code 01D .0305 - FORMS TO ACCOMPANY MORTGAGE LOANS APPROVED BY THE AGENCY
(a) Mortgage Loan Documentation. The mortgage
loan note and Deed of Trust shall be executed on forms approved by the agency
and the mortgage loan shall state that the mortgage loan is being made by the
lender pursuant to the agency's single family mortgage purchase program. FHLMC
or FNMA loan package forms (other than note and Deed of Trust) are acceptable
for agency use; they are to be conformed, where necessary as to names of
parties.
(b) At or prior to the
delivery to the agency of mortgage loans purchased by the agency, the lender
shall forward to the agency:
(1) mortgage loan
note;
(2) deed of trust;
(3) title insurance policy;
(4) mortgagor's certification as to lower
income status;
(5) evidence of
mortgage insurance consisting of:
(A) Mortgage
insurance certificate issued by qualified insurer, or
(B) FHA mortgage insurance certificate
showing FHA number for loan and applicable section of National Housing Act,
or
(C) VA guaranty certificate
showing endorsement date;
(6) deed of assignment of deed of
trust;
(7) mortgage loan
origination documentation including:
(A)
mortgage loan application,
(B)
verification of mortgagor's employment,
(C) verifications of mortgagor's
deposits,
(D) credit
report,
(E) appraisal
report;
(8) a photograph
of the house;
(9) such other
documentation as shall be requested by the executive director.
Notes
Eff. May 28, 1976;
Amended Eff. March 22, 1979;
Transferred from T15: 14 Eff. December 1, 1981;
Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. September 23, 2017.
Eff. May 28, 1976;
Amended Eff. March 22, 1979;
Transferred from T15: 14 Eff. December 1, 1981.
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