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) 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 ).
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.