Section 26-C2005. RED FLAG WARNING DISCLOSURE NOTICE

 

2005.1The "Red Flag" Warning Disclosure Notice ("Notice"), attached in the Appendix, Form 1, shall be used to comply with the notice requirement established in section 211 of the Act and may be used to comply with section 219 of the Act.

 

2005.2The requirement of sending the Notice shall be satisfied if a mortgage broker or mortgage lender sends the disclosure notice to the borrower(s), whether or not it is sent on behalf of a specific lender.

 

2005.3The delivery of the Notice shall be made by any means in which the Notice is received by the borrower(s), including but not limited to, personal delivery, facsimile delivery, delivery in electronic format, or regular, certified or registered U.S. Mail with postage prepaid and a return receipt for certified or registered U.S. Mail. Unless the lender has been requested to send the disclosure notice to a different address by the borrower, the Notice shall be sent to the borrower(s)'s address or facsimile number as listed on the loan application.

 

2005.4The lender shall have the burden of proving that the borrower(s) received the Notice.

 

2005.5The signature of the borrower(s) on the signature line of the Notice shall be deemed to be sufficient confirmation of the borrower(s)'s receipt of the Notice.

 

source

Final Rulemaking published at 49 DCR 10779, 10781 (November 29, 2002).