As previously announced, Neb. Rev. Stat. Ann. § 45-191.01 (for which we provide “NE Loan Broker Disclosure Statement” [Cx3444]) has been amended. Currently, the disclosure statement was required to be provided “at least forty-eight hours before the borrower signs a loan brokerage agreement . . .” (Ibid. § 45-191.01[1]) This requirement has been amended so that the statement need only be provided “prior to a borrower signing a loan brokerage agreement . . .”
Due to this, we will be modifying Cx3444 to delete the two references concerning the 48-hour requirement. These references appeared in the first paragraph of the document and the “Acknowledgment” section.
Since the Nebraska Legislature adjourned earlier than scheduled this year (see “Journal – Daily” located at http://nebraskalegislature.gov/calendar/dayview.php?day=2017-05-23), the effective date for these amendments are August 24, 2017 (not September 1st, as originally projected), which is three calendar months after the date of adjournment (May 23rd – see Neb. Const. art. III, § 27; United States v. Pirnie, 339 F. Supp. 702, 711 [D. Neb. 1972], aff’d, 472 F.2d 712 [8th Cir. 1973]; and Bainter v. Appel, 124 Neb. 40, 245 N.W. 16, 18 [1932]).
Thus, these changes will take effect on August 24, 2017. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.
DR 225593