Kansas Loan Broker Disclosure (Cx4248) is required to be disclosed pursuant to Kan. Stat. Ann. § 50-1006(a) & (b) by a loan broker registered under Article 10 (Loan Brokers), Chapter 50 (Unfair Trade and Consumer Protection) of the Statutes of Kansas. Most all mortgage lenders in Kansas are licensed under Article 22 (Mortgage Business), Chapter 9 (Banks and Banking; Trust Companies) of the Statutes of Kansas.
Per Kan. Stat. Ann. § 50-1001(c), Loan broker does not include:
“(1) Any bank, savings bank, trust company, savings and loan association, credit union or any other financial institution regulated by any agency of the United States or any state;
(2) any person authorized to sell and service loans for the federal national mortgage association or the federal home loan mortgage corporation, issue securities backed by the government national mortgage association, make loans insured by the department of housing and urban development, make loans guaranteed by the veterans administration, or act as a correspondent of loans insured by the department of housing and urban development or guaranteed by the veterans administration;
(3) any insurance company; or
(4) any person arranging financing for the sale of the person’s product.”
Consequently, our research has indicated that most clients will never need to print Cx4248.
As a result, we are modifying the current print configuration of Cx4248 to no longer print as a generic document. Clients who are currently assigned to the document with custom print configurations will continue to receive Cx4248 under their specified print settings. Clients who do not have custom print configurations already, that wish to still receive the document, will need to work with their Account Manager to be assigned to Cx4248.
This document change will be in effect on February 27, 2019. If you have any questions or concerns about this change, please contact Client Support at 1.800.497.3584.
DR 282446