Certification Letter

$25.00

The certification letter provides a convenient format for documenting a review of each note, mortgage or other loan contract to detect the presence of language creating mandatory arbitration or prohibited waivers.

Description

To implement the prohibitions against mandatory arbitration and waivers contained in Section 1026.36 of Regulation Z each note, mortgage or other loan contract must be reviewed for the presence of the forbidden language. The review, whether conducted by legal counsel, an employee of the financial institution or the vendor that provided the form, should be documented. The certification letter provides a convenient format for documenting the review.

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