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The Mortgage Servicing rules require a bank to provide certain disclosures to confirmed successors in interest. Is it permissible to provide these disclosures to both the borrower and the confirmed successor in interest simultaneously when both parties must receive them?

It is permissible to do so under the Mortgage Servicing Rules. The bank will have to ensure that any information it discloses to a non-borrower about a borrower is permissible under applicable privacy laws and regulations and its contract with the borrower. It may be prudent to have legal counsel review the bank’s contracts and all disclosures that must be sent to confirmed successors when the borrowers still remain on the loan to ensure the banks meets all requirements without making unintentional violations. (May 2018)

The Mortgage Servicing rules require a bank to provide certain disclosures to confirmed successors in interest. Is it permissible to provide these disclosures to both the borrower and the confirmed successor in interest simultaneously when both parties must receive them?

The Mortgage Servicing rules require a bank to provide certain disclosures to confirmed successors in interest. Is it permissible to provide these disclosures to both the borrower and the confirmed successor in interest simultaneously when both parties must receive them?