Document Updates and Retirements: Massachusetts HCL Disclosures on URLA (Cx4193 & Cx20667), MA High Cost Loan Application Disclosure (Cx3742), & MA High Cost Loan Payment Disclosure (Cx3746)
Formerly under Mass. Regs. Code tit. 209, §§ 32.32(3)(f)(1) & 40.04(6)(a), the following was required:
“The following statement must appear in at least 12 point type directly above the borrower’s signature line on the application: ‘The loan which will be offered to you is not necessarily the least expensive loan available to you and you are advised to shop around to determine competitive interest rates,…