Source: https://tfresource.org/topics/Format_Testing.html
Timestamp: 2020-08-14 11:51:54
Document Index: 235003141

Matched Legal Cases: ['§ 3500', '§ 3500', '§ 3500', '§ 3500', '§ 3500', '§ 3500', '§ 3500', '§ 3500', '§ 226']

Format Testing | TF Resource
§ 3500.1 Designation and applicability.
(a) Designation .
(b) Applicability .
(a) Lender to provide special information booklet.
Just testing how the heading hierarchy looks with some light reading from HUD.
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# § 3500.1 Designation and applicability.
# (a) Designation .
# (b) Applicability .
The following sections, as revised by the final rule published on November 17, 2008 , are applicable as follows:
# (1) Sections 3500.8(b), 3500.17, 3500.21, 3500.22 and 3500.23, and Appendices E and MS-1
are applicable commencing January 16, 2009.
# (2) Section 203.27,
the definitions other than Required use in § 3500.2, § 3500.7, §§ 3500.8(a) and(c), § 3500.9, and Appendices A and C, are applicable commencing January 1, 2010.
# § 3500.6 Special information booklet at time of loan application.
# (a) Lender to provide special information booklet.
# (1) The lender shall provide the special information booklet
by delivering it or placing it in the mail to the applicant not later than three business days (as that term is defined in § 3500.2) after the application is received or prepared. However, if the lender denies the borrower's application for credit before the end of the three-business-day period, then the lender need not provide the booklet to the borrower. If a borrower uses a mortgage broker, the mortgage broker shall distribute the special information booklet and the lender need not do so. The intent of this provision is that the applicant receive the special information booklet at the earliest possible date.
# (2) In the case of a federally related mortgage loan
involving an open-ended credit plan, as defined in § 226.2(a)(20) of Regulation Z (12 CFR), a lender or mortgage broker that provides the borrower with a copy of the brochure entitled “When Your Home is On the Line: What You Should Know About Home Equity Lines of Credit”, or any successor brochure issued by the Board of Governors of the Federal Reserve System, is deemed to be in compliance with this section.
# (3) In the categories of transactions set forth at the end of this paragraph
the lender or mortgage broker does not have to provide the booklet to the borrower. Under the authority of section 19(a) of RESPA (12 U.S.C. 2617(a)),
the Secretary may issue a revised or separate special information booklet that deals with these transactions, or the Secretary may chose to endorse the forms or booklets of other Federal agencies. In such an event, the requirements for delivery by lenders and the availability of the booklet or
alternate materials for these transactions will be set forth in a Notice in the Federal Register. This paragraph shall apply to the following transactions:
# (i) Refinancing transactions;
# (ii) Closed-end loans
: as defined in 12 CFR 226.2(a)(10) of Regulation Z, when the lender takes a subordinate lien;
# (iii) Reverse mortgages; and
# (iv) Any other federally related mortgage loan
whose purpose is not the purchase of a 1- to 4-family residential property.
# (b) Revision.