Ky. Rev. Stat. §286.8-270 requires a mortgage loan broker to disclose to borrowers all material facts of which the mortgage loan broker has knowledge that might reasonably affect the borrowers rights, interests, or ability to receive the borrowers intended benefit from [a] residential mortgage loan. To comply with this law, DocuTech provides Cx3825.
Although the current text of this document is sufficient for compliance purposes, it is being edited to more closely reflect statutory language, as well as to disclose a more precise citation (the current citation is to Ibid. §294.270, which was the section this law originally was codified in). The field “Material Facts Information” is prompted for in ConformX Initial Disclosures for all Kentucky broker loans. If the field is left empty, three blank lines will print on Cx3825.
This change will take effect on June 17, 2013. If you have any questions or concerns about this change, please contact Client Support at 1.800.497.3584.
June 10, 2013
DR 115427