SECTION .0500 - DISCLOSURE REQUIREMENTS

 

04 NCAC 03K .0501          REVERSE MORTGAGE LENDER APPLICATION DISCLOSURE

(a)  Authorized lenders shall disclose to the borrower all terms and conditions of the reverse mortgage loan in accordance with the Truth In Lending Act, RESPA, and Regulation Z, and any other applicable federal or state laws and regulations.

(b)  The items required to be disclosed by Paragraph (a) of this Rule may be incorporated into one or more forms required by State or Federal law, rules or regulations, or such items may be contained on a separate form.

 

History Note:        Authority G.S. 53-259; 53-264; 53-265(a); 53-271(a);

Eff. January 1, 1995.