§14A-3-313. Notification to borrower of transfer of residential

121 words·~1 min read·/ok/title-14a-consumer-credit-code/14a-3-313

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

mortgage loan.

Not later than thirty

(30)days after the date on which a residential mortgage loan is sold or otherwise transferred or assigned to a third party, the creditor that is the new owner or assignee of the debt shall notify the borrower in writing of such transfer, including:

(a)the identity, address and telephone number of the new

creditor;

(b)the date of transfer;

(c)how to reach an agent or party having authority to act

on behalf of the new creditor;

(d)the location of the place where transfer of ownership

of the debt is recorded; and

(e)any other relevant information regarding the new

creditor. Added by Laws 2012, c. 172, § 8, eff. July 1, 2012.