Bill > SB2711

This bill clarifies and revises the required contents of individual borrower and servicer files for licensees in Mississippi, ensuring that certain documents, such as the mortgage origination agreement, loan application, closing statement (if required by federal law), loan estimate (if required by federal law), appraisal or statement of value, loan lock-in agreement, and all disclosures required under federal law or regulations, are included. It also specifies acceptable forms of loan applications, including alternative applications for licensees under the Small Loan Regulatory Law and for certain manufactured homes, and clarifies that licensees are not required to provide or retain federal disclosures unless mandated by federal law. The bill also updates the required contents for individual servicer files to include the original and final loan applications, closing statements (if required by federal law), modification agreements, collection/default letters, addendums, assigned notes, and complete pay and comment/note histories.

Business and Industry

https://billstatus.ls.state.ms.us/2026/pdf/history/SB/SB2711.xml