Loan Agreement Disclosure

(ii) any bank, institution, company, company, trade union and association in accordance with Section 1.7 (b) (1) (B) of the Law, but only with respect to loans discounted or mortgaged in accordance with Section 1.7 (b) (1) of the Act. Other forms may be provided in accordance with the regulations. If you use the forms in the regulations and correctly fill out the information provided, you have complied with the disclosure standards. There are five situations in which you have specific obligations to advertise to a guarantor: disclosure rules ensure that the borrower receives the details of his loan and a written record of the main terms of his contract before receiving it. The regulations also help borrowers track their debts for the duration of the loan. b) Each qualified lender makes available to the borrower or the borrower`s legal representative, when executing the loan, a copy of all loan documents. Subsequently, at the written request of a borrower or a borrower`s legal representative, a qualified lender will send as soon as possible a copy of the loan documents signed by the borrower, a copy of other documents provided by that borrower to that qualified lender, and a copy of any assessment of the borrower`s asset protection made or used by the qualified lender. To the extent that a collateral assessment may contain confidential third-party information, the lender may protect this confidential information from third parties by withholding any information that would reveal the identifying characteristics of the third party or their property. A copy is provided free of charge.

The lender can assess the appropriate copying fee for all additional copies requested by the borrower. If the amendment reduces the borrower`s obligations or gives him more time to pay, you can either indicate: (2) The execution of the loan indicates the date on which the borrower and the eligible lender entered into a legal, binding and enforceable loan agreement, as well as any subsequent modifications or modifications to that contract. Disclosure of applications must be free, unless you have the right to make a disclosure in the context of the case, if the borrower makes a written request to request specific information about his loan – this is called disclosure of the application. Initial disclosure is the most important information about you as a lender and the terms of the loan that you must disclose to the borrower before the loan is made. This information includes all surcharged fees and interest, payment information, security interest, hardness and deletion rights, your FSPR number, your dispute resolution provider and a number of other information.