This bulletin alerts interested parties to changes that may be necessary in their operations as a result of the adoption of the Vermont Civil Union Law. It also provides sample language for Individual Retirement Accounts ("IRAs") and residential mortgage loan applications that may be helpful as lenders adjust their operations and procedures to recognize civil unions.
This bulletin provides guidance on the disclosures that all ATM Owners or other remote service unit owners ("Terminal Owners") must provide at each ATM location. It provides guidance on the form, content, timing, and location of the disclosures.
This bulletin provides further guidance on permitted charges on subordinate lien residential mortgage loans, including loans made by licensed lenders, and reiterates that only fees permitted by 9 VSA §42 may be charged in connection with subordinate lien residential mortgage loans.
Department of Banking, Insurance, Securities & Health Care Administration
Vermont Banking Division
Section 1. Authority and Purpose
This regulation is promulgated pursuant to Title 8 Section 75, and Section 2214 (which was 8 V.S.A. § 2231 prior to January 1, 1997). Its purpose is to set forth rules for the licensing and regulation of Mortgage Brokers.