Section 26-C2007. FILING REQUIREMENTS AND PROCEDURES WITH THE DEPARTMENT OF INSURANCE, SECURITIES AND BANKING

 

2007.1Within 14 days after the funding of a covered loan, as defined under section 101(7)(A) of the Act, a lender shall submit copies of the settlement statement, the FP 7/C Form filed with the Office of the Recorder of Deeds, the final Truth in Lending Act disclosure, and the note to the Department.

 

2007.2In addition to the documents described in § 2007.1, the lender shall submit a letter of transmittal in a form similar to, and containing the same information, as the sample letter of transmittal found in the Appendix, Form 2, to the Department.

 

2007.3The letter of transmittal shall also contain a certification by the lender that the documents submitted pursuant to § 2007.1 are true copies of the original documents.

 

2007.4The lender shall deliver the transmittal letter and loan documents package to: Department of Insurance, Securities and Banking, 810 First Street, N.E., Suite 701, Washington, DC 20002.

 

2007.5Pursuant to D.C. Official Code § 26-1109, the lender shall retain copies of the note, settlement statement, truth-in-lending disclosure, and such other papers or records relating to the loan for at least 3 years after final payment is made on any mortgage loan or after the mortgage loan is sold, whichever comes first.

 

source

Final Rulemaking published at 49 DCR 10779, 10782 (November 29, 2002).