Section 81-18-33 - Required contents of individual borrower files and individual servicer files(1) The individual borrower files of a licensee shall contain at least the following: (a) A mortgage origination agreement provided to the borrower containing at least the following statements: (i) "As required by Mississippi Law, (licensed company name) has secured a bond issued by (name of insurance company), a surety company authorized to do business in this state. A certified copy of this bond is filed with the Mississippi Commissioner of Banking and Consumer Finance."(ii) "As a borrower you are protected under the Mississippi S.A.F.E. Mortgage Act."(iii) Complaints against a licensee may be made by contacting the: Mississippi Department of Banking and
Consumer Finance
P.O. Drawer 12129
Jackson, MS 39236-2129;
(b) A copy of the original loan application signed and dated by the licensee;(c) A copy of the signed closing statement as required by HUD or documentation of denial or cancellation of the loan application;(d) A copy of the loan estimate of costs provided to the borrower;(e) A copy of the appraisal or statement of value if procured as a part of the loan application process;(f) A copy of a loan lock-in agreement, if any, provided by the licensee;(g) A copy of the disclosures required under Regulation Z of the federal Truth In Lending Act and other disclosures as required under federal regulations and evidence that those disclosures have been properly and timely made to the borrower;(h) A copy of the final signed Uniform Residential Loan Application. However, any mortgage licensee who holds a license under the provisions of the Small Loan Regulatory Law, Section 75-67-101 et seq., and the Small Loan Privilege Tax Law, Section 75-67-201 et seq., may substitute an application that is otherwise compliant with federal and state law; and(i) Additional information as required per the rules and regulations adopted by the commissioner according to Section 81-18-29.(2) The individual servicer files of a licensee shall contain at least the following: (a) A copy of the original initial loan application signed and dated by the licensee;(b) A copy of the final loan application signed and dated by the licensee;(c) A copy of the signed closing statement as required by HUD or documentation of denial or cancellation of the loan application;(d) Modification agreements;(e) Collection/default letters and related documentation;(f) Addendums, riders, assigned note, if applicable;(g) Complete pay history from the time the loan was transferred or boarded;(h) Complete comment/note history from the time the loan was transferred or boarded; and(i) Additional information as required per the rules and regulations of this chapter as deemed by the commissioner according to Section 81-18-29. Laws, 2000, ch. 579, § 17; reenacted without change, Laws, 2002, ch. 500, § 18; reenacted and amended, Laws, 2004, ch. 364, § 18; reenacted and amended, Laws, 2007, ch. 581, § 19; Laws, 2009, ch. 544, § 17; reenacted and amended, Laws, 2010, ch. 462, § 20; reenacted without change, Laws, 2012, ch. 571, § 19, eff. 7/1/2012.Reenacted and amended by Laws, 2020, ch. 310, SB 2427,§ 20, eff. 7/1/2020.Reenacted and amended by Laws, 2016, ch. 360, SB 2504, 20, eff. 7/1/2016.