This document is provided pursuant to the provisions of Cal. Code Regs. tit. 10, §§ 1436(d) & 1950.314.8(d) to be provided to the borrower in connection with “a nontraditional loan or an adjustable rate loan that is subject to the Guidance [on Nontraditional Mortgage Product Risks]”. Cx13522 is, to a large extent, a duplicate of the “Comparison Chart” published on the California Department of Business Oversight’s website (http://www.dbo.ca.gov/Commissioner/Releases/Residential_Mortgage.asp).
However, unlike the “Comparison Chart,” borrower signature lines appear in Cx13522. In order to conform more with the published form, we will be removing these lines. Clients who wish to retain the signature lines may do so as customizations and may also include an acknowledgment of receipt before such lines (we can provide a sample of such acknowledgment for any interested clients).
This change will take effect on January 6, 2015. If you have any questions or concerns about this change, please contact Client Support at 1.800.497.3584.
December 29, 2014