61-2d-112. Notice of information available to borrowers.
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61-2d-112. Notice of information available to borrowers.
(1)In addition to any other notice or disclosure a lender or title company may provide to a borrower seeking, obtaining, or inquiring about a high-cost mortgage, the lender shall provide the borrower any brochure or other document information prepared by a federal or state authority in a form intended to inform consumers about home loans or consumer credit on financing or educational resources on financing.
(2)The requirement set forth in Subsection
(1)may include:
(a)the posting, in a public area of the office, notice indicating that educational resources are available;
(b)a list of educational opportunities or programs offered in the surrounding area including the program name and phone number;
(c)a printed brochure or booklet on responsible lending and borrowing available to the borrower at no charge; or
(d)information from the Department of Financial Institutions on its responsible consumer financial educational program.
Enacted by Chapter 252 , 2004 General Session