Mississippi Code 1972 (2023) › Title 81 - BANKS AND FINANCIAL INSTITUTIONS (§§ 81-1-1 — 81-29-3) › Chapter 18 - MISSISSIPPI S.A.F.E. MORTGAGE ACT (§§ 81-18-1 — 81-18-63) › IN GENERAL (§§ 81-18-1 — 81-18-55) › Section 81-18-33 - Required contents of individual borrower files and individual servicer files

(1)
The individual borrower files of a licensee shall contain at least the following:
(a)
A mortgage origination agreement provided to the borrower containing at least the following statements:
(i)
"As required by Mississippi Law, (licensed company name) has secured a bond issued by (name of insurance company), a surety company authorized to do business in this state. A certified copy of this bond is filed with the Mississippi Commissioner of Banking and Consumer Finance."
(ii)
"As a borrower you are protected under the Mississippi S.A.F.E. Mortgage Act."
(iii)
Complaints against a licensee may be made by contacting the:
Mississippi Department of Banking and
Consumer Finance
P.O. Drawer 12129
Jackson, MS 39236-2129;
(b)
A copy of the original loan application signed and dated by the licensee;
(c)
A copy of the signed closing statement as required by HUD or documentation of denial or cancellation of the loan application;
(d)
A copy of the loan estimate of costs provided to the borrower;
(e)
A copy of the appraisal or statement of value if procured as a part of the loan application process;
(f)
A copy of a loan lock-in agreement, if any, provided by the licensee;
(g)
A copy of the disclosures required under Regulation Z of the federal Truth In Lending Act and other disclosures as required under federal regulations and evidence that those disclosures have been properly and timely made to the borrower;
(h)
A copy of the final signed Uniform Residential Loan Application. However, any mortgage licensee who holds a license under the provisions of the Small Loan Regulatory Law, Section
75-67-101
et seq., and the Small Loan Privilege Tax Law, Section
75-67-201
et seq., may substitute an application that is otherwise compliant with federal and state law; and
(i)
Additional information as required per the rules and regulations adopted by the commissioner according to Section
81-18-29
.
(2)
The individual servicer files of a licensee shall contain at least the following:
(a)
A copy of the original initial loan application signed and dated by the licensee;
(b)
A copy of the final loan application signed and dated by the licensee;
(c)
A copy of the signed closing statement as required by HUD or documentation of denial or cancellation of the loan application;
(d)
Modification agreements;
(e)
Collection/default letters and related documentation;
(f)
Addendums, riders, assigned note, if applicable;
(g)
Complete pay history from the time the loan was transferred or boarded;
(h)
Complete comment/note history from the time the loan was transferred or boarded; and
(i)
Additional information as required per the rules and regulations of this chapter as deemed by the commissioner according to Section
81-18-29
.
Laws, 2000, ch. 579, § 17; reenacted without change, Laws, 2002, ch. 500, § 18; reenacted and amended, Laws, 2004, ch. 364, § 18; reenacted and amended, Laws, 2007, ch. 581, § 19; Laws, 2009, ch. 544, § 17; reenacted and amended, Laws, 2010, ch. 462, § 20; reenacted without change, Laws, 2012, ch. 571, § 19, eff. 7/1/2012.
Reenacted and amended by Laws, 2020, ch. 310, SB 2427,§ 20, eff. 7/1/2020.
Reenacted and amended by Laws, 2016, ch. 360, SB 2504, 20, eff. 7/1/2016.