5 Miss. Code. R. § 2-1.1 - Purpose

Current through April 7, 2022

This regulation was adopted as an amendment to the Regulations for the Mississippi SAFE Mortgage Act amendments made by the Mississippi Legislature with an effective date of July 1, 2013 and are intended only to clarify the existing law (both statutory and regulatory) governing the mortgage business. These Regulations do not create any new or substantive rights in favor of any borrower or against any licensee, regardless of whether the loan was made prior to or after the effective date of these Regulations.

These regulations are promulgated pursuant Section 81-18-1, et seq., Mississippi Code of 1972, Annotated, also known as the Mississippi S.A.F.E. Mortgage Act, and other applicable statutes to establish administrative procedures required by the Mississippi Department of Banking and Consumer Finance.

These Regulations shall be applicable to licensees under the Mississippi S.A.F.E. Mortgage Act. These Regulations are not intended to create any private right, remedy, or cause of action in favor of any borrower or against any Licensee or are these Regulations intended to apply to any business transaction of a Licensee not covered by Mississippi Law.

Notes

5 Miss. Code. R. § 2-1.1
Miss. Code Ann. § 81-18-1; Effective date August 30, 2013

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