This document, which is a duplicate of the model “Tangible Net Benefit Disclosure” published on the Colorado Division of Real Estate’s website, is provided pursuant to the following provisions:
Colo. Rev. Stat. Ann. §§ 5-3.5-103(1)(c), 12-61-904.5, & 38-40-105(1.7)(a)(II)
4 Colo. Code Regs. §§ 725-3:5.6, 725-3:5.7(A), & 725-3:5.8
In the Colorado Department of Regulatory Agencies’ Fall 2014 Newsletter, it was announced that the Colorado Board of Mortgage Originator’s had adopted a new version of the Tangible Net Benefit Disclosure form, which would effectively replace the current version on January 1, 2015 (a copy of which is available here; a copy of the newsletter may be downloaded here).
A notable change between the versions is the list of tangible benefits. While the current version requires the borrower and co-borrower to initial the benefits they would be obtaining, the new version only requires checkmarks. In addition to updating Cx12873 to match the new model form, we are also adding functionality for clients to use fields to mark which tangible benefits the borrower will be obtaining with the loan.
These changes will take effect on January 1, 2015. If you have any questions or concerns, please contact Client Support at 1.800.497.3584.
December 18, 2014
DR 159626
Update: In order to more closely match the model form, we have decided to include the logo for the Colorado Department of Regulatory Agencies and the Colorado Division of Real Estate, as contained on the original. A couple other minor textual changes have also been made.
April 20, 2015
DR 166874