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Searching 2021-2022 Session

The Vermont Statutes Online

 

Title 8 : Banking and Insurance

Chapter 073 : LICENSED LENDERS, MORTGAGE BROKERS, MORTGAGE LOAN ORIGINATORS, SALES FINANCE COMPANIES, AND LOAN SOLICITATION COMPANIES

(Cite as: 8 V.S.A. § 2220)
  • § 2220. Disclosure required by mortgage lender

    In advance of taking any fee or collecting any charges for a mortgage loan, or at the time the prospective borrower submits a signed application, a written disclosure shall be provided by the lender to the prospective borrower setting forth all provisions relating to interest rates applicable to the loan, and specific disclosure regarding any possibility that the lender may change its role to that of a mortgage broker. This section shall not apply to commercial loans. (Added 1995, No. 162 (Adj. Sess.), § 21, eff. Jan. 1, 1997; amended 2009, No. 29, § 1.)