Arizona Disclosures prescribed by Title I of the Consumer Credit Protection Act (15 U.S.C. §§ 1601 through 1667) English & Spanish Premium Finance Companies must provide the required disclosures to agents, brokers, and managing general agents ARIZ. REV. STAT. ANN. § (2013) ARIZ. REV. STAT. ANN. § (2013) GFE: N/A Servicing Disclosure Statement: N/A Affiliated Business Arrangements: N/A Escrow Account Operation & Disclosures: N/A Majority of DocuTech clients are exempt from this foreign language disclosure requirement. Notice, in close proximity to signature lines, that borrower may request the Spanish language disclosure before signing any documents. English & Spanish From Premium Finance Companies on all Premium Finance Agreements. ARIZ. REV. STAT. ANN. § (2013) ARIZ. REV. STAT. ANN. § (2013) Majority of DocuTech clients are exempt from this foreign language disclosure requirement. Specific notice in both languages in close proximity to the consumer’s signature line English & Spanish On each note or agreement evidencing a Consumer Lender Loan (loans ≤ $10,000) ARIZ. REV. STAT. ANN. § (2013) ARIZ. REV. STAT. ANN. § (2013) DocuTech does not typically support loans ≤ $10,000.
Translation of the contract or agreement in the language in which it was negotiated in must be provided prior to the execution thereof. Translated contract must include translation of every term and condition in the contract/agreement. Spanish, Chinese, Tagalog, Vietnamese, or Korean When a contract or agreement is negotiated primarily, whether orally or in writing, in Spanish, Chinese, Tagalog, Vietnamese, or Korean Potential borrower negotiates terms through his/her own interpreter Loans secured by real property, unless they’re negotiated by a real estate broker. Supervised Financial Organization complies with § 1632.5 instead Complies with § 1632(c) instead, when applicable (provides Statement to the borrower under CAL. BUS. & PROF. CODE § 10240). Complies with CAL. CIV. CODE § 1632(e) instead. Bank chartered under federal law. CAL. CIV. CODE § (West 2012) For Lenders licensed under the California Finance Lenders Law, fulfilled by use of 15532 (Spanish); For other lenders, fulfilled by use of 17108 (Spanish), and 17109 (Spanish)
Translation of the statement to borrower required in CAL. BUS. & PROF. CODE § 10240 in the language in which the contract was negotiated, provided within three business days after receipt of a completed written loan application or before a borrower becomes obligated on the note – whichever is earlier. Spanish, Chinese, Tagalog, Vietnamese, or Korean When a loan is negotiated in a language other than English by a real estate broker and such loan will be secured by a lien on real property Potential borrower negotiates terms through his/her own interpreter Supervised Financial Organization complies with § 1632.5 instead Complies with CAL. CIV. CODE § 1632(e) instead. CAL. CIV. CODE § (West 2012) 17108 (Spanish) 17109 (Spanish with GFE) Disclosures Required by Regulation Z, or California Finance Lenders Law, in language in which the contract/agreement was negotiated prior to the execution of the contract/agreement. Spanish, Chinese, Tagalog, Vietnamese, or Korean When a contract or agreement is negotiated primarily, whether orally or in writing, in Spanish, Chinese, Tagalog, Vietnamese, or Korean by a supervised financial organization Potential borrower negotiates terms through his/her own interpreter Supervised Financial Organization complies with § 1632.5 instead CAL. CIV. CODE § (West 2012) 14389 (Spanish TIL) 7383 (Spanish TIL)
Oregon The GFE, TIL, and statement notifying the borrower that loan documents will be in English. These must be provided in English and in the language other than English in which a substantial portion of the communication is related to the transaction that takes place. Russian, Spanish, or Vietnamese When a mortgage broker, mortgage loan originator or mortgage banker communicates in an advertisement other than English or otherwise solicits business in a language other than English; and offers to negotiate or does negotiate a residential mortgage transaction in which a substantial portion of the communication related to the transaction occurs in a language other than English. OR. REV. STAT. ANN. § (West 2013) OR. REV. STAT. ANN. § (West 2013) TIL: 15658 (Spanish) GFE: 15656 (Spanish) Notice: 15657 (Spanish)
Pennsylvania Copy of contract along with a specified statement in immediate proximity to the space for the signature of the buyer. Language principally used in the oral sales presentation When a language other than English is principally used in the oral sales presentation for the sale of goods or services having a sale price of $25 or more are sold or contracted to be sold to a buyer “as a result of, or in connection with, a contact with or call on the buyer or resident at his residence either in person or by telephone.” Contract for sale of real property Waiver of rights under an Emergency Work Authorization 73 PA. STAT. ANN. § (West 2012) Available upon request Notice of Cancellation Language principally used in the oral sales presentation When a language other than English is principally used in the oral sales presentation for the sale of goods or services having a sale price of $25 or more are sold or contracted to be sold to a buyer “as a result of, or in connection with, a contact with or call on the buyer or resident at his residence either in person or by telephone.” Contract for sale of real property Waiver of rights under an Emergency Work Authorization 73 Pa. Stat. Ann. § (West 2012) Available upon request
Texas Spanish TIL (for transactions) must be provided to the borrower Spanish When a Consumer Loan or a home equity loan regulated by the Texas Office of Consumer Credit is negotiated in Spanish. Loan which doesn’t meet the requirements of a ‘consumer loan’ or a ‘home equity loan’ TEX. FIN. CODE ANN. § (West 2011); 14389 (Spanish TIL) 7383 (Spanish TIL) One of the following: Spanish Contract + Spanish Translation of the Federal TIL; or Notificación de Crédito Al Consumidor (Préstamo a Plazos) must be provided no later than consummation of the contract. Spanish When a contract for a closed-end secondary mortgage loan is negotiated in Spanish and any of the following credit terms are negotiated in Spanish: amount financed, finance charge, annual percentage rate, the amount of any payment or schedule of payments, total of payments, or security interest. Provides Spanish TIL instead Merely advertising the following terms does not necessitate providing the Form of Disclosure: amount financed, finance charge, annual percentage rate, the amount of any payment or schedule of payments, total of payments, or security interest. 7 TEX. ADMIN. CODE § (a) (2013) Contract: Available upon request TIL: 14389 (Spanish TIL) 7383 (Spanish TIL) Notificación de Crédito Al Consumidor (Préstamo a Plazos): Available upon request