Section 710IAC1-22-9. Record maintenance

   Any licensee who procures a residential mortgage loan shall include in the file of the borrower or potential borrower, in addition to the requirements set forth in IC 23-2-5-18(a)(1), the following to the extent the documents are originated by the licensee:

(1) The initial loan application, signed and dated by the loan originator.

(2) The initial and any subsequent good faith estimate provided by the licensee.

(3) A credit report, if obtained.

(4) Verification of the borrower's income and employment as required by the initial lender.

(5) Any Truth in Lending Act disclosure.

(6) A HUD-1 or HUD 1A Settlement Statement signed by the borrower or borrowers and the initial lender or settlement agent, if applicable.

(7) Affiliated business arrangement disclosure statements provided to the borrower.

(8) A servicing transfer disclosure statement.

(9) A right to receive appraisal disclosure, if applicable.

(10) A right of rescission notice, if applicable.

(11) An appraisal or appraisals of the property obtained by the broker.

(12) Any commitment or rate lock-in agreements, if applicable.

(13) Copies of all notes or correspondence in whatever format, including electronic and facsimile transmissions, with the following:

(A) Borrowers.

(B) Third party settlement service providers, including the following:

(i) Appraisers.

(ii) Title agents.

(iii) Credit reporting agencies.

(C) Lenders.

(14) A record of all charges or fees assessed to the borrower's account reflecting the following:

(A) Amount of the charge or fee.

(B) Purpose.

(C) Date imposed.

(Securities Division; 710 IAC 1-22-9; filed Jan 19, 2006, 12:19 p.m.: 29 IR 1926; readopted filed Nov 26, 2012, 1:59 p.m.: 20121226-IR-710120573RFA)

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