HB1522

Mississippi HB1522 revises mortgage origination agreements to include specific disclosures and documentation.

Mississippi HB1522 amends Section 81-18-33 of the Mississippi Code to revise the information required in mortgage origination agreements. It specifies that mortgage origination agreements must include a statement about a bond secured by the licensed company, protection under the Mississippi S.A.F.E. law, and copies of various documents such as the appraisal, loan lock-in agreement, and disclosures. The bill also outlines the contents of individual borrower and servicer files, including signed loan applications, closing statements, and collection/default documentation.