12 CFR Part 1024, Appendix MS-1 to Part 1024 - Servicing Disclosure Statement

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There are 2 Updates appearing in the Federal Register for 12 CFR Part 1024. View below or at eCFR (GPOAccess)
View PDF at GPO Pt. 1024, App. MS-1
Appendix MS-1 to Part 1024—Servicing Disclosure Statement
[Sample language; use business stationery or similar heading]
[Date]
SERVICING DISCLOSURE STATEMENT NOTICE TO FIRST LIEN MORTGAGE LOAN APPLICANTS: THE RIGHT TO COLLECT YOUR MORTGAGE LOAN PAYMENTS MAY BE TRANSFERRED
You are applying for a mortgage loan covered by the Real Estate Settlement Procedures Act (RESPA) (12 U.S.C. 2601 et seq.). RESPA gives you certain rights under Federal law. This statement describes whether the servicing for this loan may be transferred to a different loan servicer. “Servicing” refers to collecting your principal, interest, and escrow payments, if any, as well as sending any monthly or annual statements, tracking account balances, and handling other aspects of your loan. You will be given advance notice before a transfer occurs.
Servicing Transfer Information
[We may assign, sell, or transfer the servicing of your loan while the loan is outstanding.]
[or]
[We do not service mortgage loans of the type for which you applied. We intend to assign, sell, or transfer the servicing of your mortgage loan before the first payment is due.]
[or]
[The loan for which you have applied will be serviced at this financial institution and we do not intend to sell, transfer, or assign the servicing of the loan.]
[INSTRUCTIONS TO PREPARER: Insert the date and select the appropriate language under “Servicing Transfer Information.” The model format may be annotated with further information that clarifies or enhances the model language.]

Title 12 published on 2015-01-01.

The following are only the Rules published in the Federal Register after the published date of Title 12.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

  • 2015-04-21; vol. 80 # 76 - Tuesday, April 21, 2015
    1. 80 FR 22091 - Homeownership Counseling Organizations Lists and High-Cost Mortgage Counseling Interpretive Rule
      GPO FDSys XML | Text
      BUREAU OF CONSUMER FINANCIAL PROTECTION
      Final rule.
      This rule is effective April 21, 2015.
      12 CFR Parts 1024 and 1026

Title 12 published on 2015-01-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 12 CFR Part 1024 after this date.

  • 2015-04-21; vol. 80 # 76 - Tuesday, April 21, 2015
    1. 80 FR 22091 - Homeownership Counseling Organizations Lists and High-Cost Mortgage Counseling Interpretive Rule
      GPO FDSys XML | Text
      BUREAU OF CONSUMER FINANCIAL PROTECTION
      Final rule.
      This rule is effective April 21, 2015.
      12 CFR Parts 1024 and 1026