N.M. Admin. Code § 12.19.2.13

Current through Register Vol. 35, No. 21, November 5, 2024

Section 12.19.2.13 - DISCLOSURES

At least two (2) days prior to closing, a mortgage loan originator shall provide to the borrower(s) the following federal disclosures specific to the mortgage loan the borrower(s) is receiving:

(1) a good faith estimate and

(2) a truth in lending statement. These documents shall be used to comply with Section 58-21B-20(B) NMSA 1978. For the purposes of the act, the yield spread premium or discount points received by the mortgage loan company shall be disclosed as a credit or charge in a dollar amount on all good faith estimates.

N.M. Admin. Code § 12.19.2.13

12.19.2.13 NMAC - N, 08/31/09; A, 06/01/10