As announced previously, Mississippi has recently adopted updates to the rules promulgated under the Mississippi S.A.F.E. Act, Miss. Code Ann. § 81-18-1 et seq.
One of the major updates to the rules is found in Miss. Admin. Code tit. 5, pt. 2, ch. 1, r. 1.11. This new rule says “a licensee acting in a dual capacity on the same transaction must clearly disclose their dual relationship to the borrower at the first substantive contact, meaning the first meaningful discussion about the transaction.” The rule requires Form 1 to be used for this purpose, which can be found in the Appendix A of the rules. The rule also requires that the form be signed by both borrower and the broker/MLO and must be maintained in the individual borrower’s file pursuant to Miss. Code Ann. Section 81-18-33(1)(i) and Rule 1.8 of Miss. Admin. Code tit. 5, pt. 2, ch. 1.
We have created Cx29016 MS Multiple Role (Dual Agency) Disclosure to comply with this new rule. It will now print in the Initial Disclosure package for Mississippi when Field 40140 "Dual Capacity (Lender)" is set to 'Yes'. It’s important to note that the requirement is for this form to be given, as mentioned above, at “the first meaningful discussion about the transaction.” It’s possible that would happen before the Initial Disclosure package would be given. Clients whose LOS systems support pre-application packages will be able to configure custom print conditions to include this disclosure in a pre-application package.
This disclosure will be required beginning May 26, 2026. It is available for testing on Stage & Stage 2 servers and will take effect on May 22, 2026. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.
LEG-3778
COM-7354