Louisiana Revised Statute Section § 6:1098(A) requires a mortgage broker to retain a signed copy of the residential mortgage loan brokerage contract in the customer’s file. Previously, the document had two checkboxes, one to check as “borrowers copy” and the other to check for “brokers copy”. We are adjusting our Cx4828 (Louisiana Mortgage Loan Origination Agreement) by removing the checkboxes and placing the statement: “La. Rev. Stat. Ann. § 6:1098(A) requires the mortgage broker to retain a signed copy of the residential mortgage loan brokerage contract in the customer’s file”. Also, generically we will be printing two copies of the document, one copy for the borrower and one copy for the broker.
These changes will be in effect on September 6, 2023. If you have any questions or concerns about these changes, please contact Client Support at 1.800.467.3584.
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