Cx11242 is required under the Rhode Island Home Loan Protection Act (R.I. Gen. Laws §§ 34-25.2-1 through 34-25.2-15), but more specifically under R.I. Code R. 11-2-3:5(A)(v) (2012) and must be given in connection with a home loan which refinances a previous loan which was consummated within the prior 60 months. The actual language and format of the form is set forth in R.I. Code R. 11-2-3, App. 5 as Form 3 and another copy of the form is published on the Rhode Island Department of Business Regulation website (http://www.dbr.state.ri.us/rules/banking/).
The form published by the Department of Business Regulation has a text font size of 12-point. Although Rhode Island laws do not dictate that the form be in 12-point size, we will be updating Cx11242 to have the same font size, pursuant to our policy of matching model forms as closely as possible.
This change will take effect on March 14, 2013.
March 06, 2013