Document Updates: Fixed Rate Note Alabama Second (Cx1033)

Our Fixed Rate Note Alabama Second, Cx1033, contains a notice near the bottom of the document that reads:

CAUTION — IT IS IMPORTANT THAT YOU THOROUGHLY READ THE CONTRACT BEFORE YOU SIGN IT.

This notice is provided per Ala. Code § 5-19-6(a), which states:

(a) Any creditor, when extending credit with respect to a consumer credit transaction, other than under an open-end credit plan, shall at that time furnish to the debtor a copy of each instrument executed by the debtor in connection with the consumer credit transaction. The consumer credit transaction contract or note shall contain the following statement in eight point or larger type immediately above the space for the borrower’s signature. “CAUTION — IT IS IMPORTANT THAT YOU THOROUGHLY READ THE CONTRACT BEFORE YOU SIGN IT.”

To ensure more conservative compliance with the Code, we have moved this Caution Notice directly above the signature area, switching places with the other notice above the signatures that reads:

                    NOTICE TO BORROWER
Do not sign this Note if it contains blank spaces.
All spaces should be completed before you sign.

This change is available on Stage servers for testing and will be in effect on November 28, 2023 . If you have any questions or concerns about this change, please contact Client Support at 1.800.497.3584.

DR-146537

The preceding is for informational purposes only and is not and may not be construed as legal advice. No third party entity may rely upon anything contained herein when making legal and/or other determinations regarding its practices, and such third party should consult with an attorney prior to embarking upon any specific course of action.