Colorado Adopts Emegency Rule for Broker Registration Act

Colorado adopted an emergency rule clarifying recently enacted disclosure requirements under the Mortgage Broker Registration Act. The emergency rule addresses disclosure content and timing requirements and states that certain disclosure requirements are satisfied by the federal Truth in Lending Disclosure and Good Faith Estimate. The rule additionally sets forth two forms that may be used to comply with lock-in and mortgage broker compensation disclosure requirements.  The CO Lock-In Disclosure and the CO Mortgage Broker Compensation Disclosure Form will now print in all Colorado Initial Disclosure packages.