Requirements of Lenders of Money

Requirements of Lenders of Money; Citing this act as the “Default Interest Transparency Act”; requiring lenders of money or the agents, officers, or other representatives of such lenders to provide a dated receipt under certain circumstances; requiring lenders of money or the agents, officers, or other representatives of such lenders to give a specified notice to the borrower and all obligors of the loan within a specified timeframe; requiring the assignor of a mortgage loan to provide, within a specified timeframe, a copy of the loan history statement to a borrower or obligor upon request, etc.