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Miss. Code Ann. § 81-18-35

Journal of mortgage transactions for Mississippi residential loans that licensee originates and/or funds; journal of serviced loans for Mississippi residential loans that licensee owns and/or services [Repealed effective July 1, 2020]

Known as the Mississippi S.A.F.E. Mortgage Act

The act spans §§ 81-18-1 to 81-18-9 (35 sections).

Laws, 2000, ch. 579, § 18; reenacted without change, Laws, 2002, ch. 500, § 19; reenacted without change, Laws, 2004, ch. 364, § 19; reenacted and amended, Laws, 2007, ch. 581, …

(1) Each licensee shall maintain a journal of mortgage transactions at the principal place of business as stated on its license for all Mississippi residential loans that the licensee originated and/or funded. This journal shall be separate from non-Mississippi loans. The journal shall include at least the following information: Name of applicant and co-applicant, if applicable;

(2) Date of application;

(3) Disposition of loan application, indicating date of loan closing, loan denial, withdrawal and name of lender if applicable;

(4) Property address;

(5) Loan amount;

(6) Terms;

(7) Loan program; and

(8) Loan originator.

(9) Each licensee shall maintain a journal of serviced loans at the principal place of business as stated on its license, for all Mississippi residential loans that the licensee owns and/or services. This journal shall be kept separate from non-Mississippi loans. The journal shall include at least the following information: The number of mortgage loans the licensee is servicing;

(10) The type and characteristics of the loans;

(11) The number of serviced loans in default, along with a breakdown of thirty-, sixty- and ninety-day delinquencies;

(12) Information on loss mitigation activities, including details on workout arrangements undertaken and date loss mitigation application was submitted/approved/denied;

(13) Information on foreclosures commenced and completed;

(14) Name of applicant and co-applicant, if applicable; and

(15) Date the loan was boarded/deboarded, if applicable.

Current official text: Mississippi Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Mississippi statutes; confirm against the official source for the current text. Not legal advice.