Delaware Origination Reference Guide
- Kacey Olson
Owned by Kacey Olson
| Citation | Topic | Requirement |
| Supreme Court / Mid-Atlantic Settlement Services 755 A.2d 389 (Del. 2000) | Attorney Closing State | Only attorneys may close loans in Delaware. |
| Supreme Court / Mid-Atlantic Settlement Services 755 A.2d 389 (Del. 2000) | Document Preparation and Loan Closings | An attorney licensed to practice law in Delaware must be involved in a direct or supervisory capacity in drafting or reviewing all documents affecting transfer of title to Delaware real property, or where Delaware real property is used as security for the repayment of a debt or the performance of an obligation. Home equity loans do not fall under this requirement where the lender is acting in a pro se capacity and no evaluation of exceptions to title is required. An attorney also must conduct the closing of a refinancing loan secured by Delaware real property. |
| Mortgage Loan Brokers Act & Mortgage Loan Brokers Regulations / Del. Code Ann. tit. 5, §2113 | Mortgage Broker Agreement | A mortgage broker may not receive a fee for acting as a mortgage loan broker except pursuant to a written agreement between the mortgage loan broker and the borrower. The mortgage loan broker must enter into a separate, signed, written agreement with the potential borrower, independent of the loan agreement. |
| Secure and Fair Enforcement for Mortgage Licensing Act / Del. Code Ann. tit. 5, §2420 | NMLS Unique Identifier | The NMLS unique identifier of any person originating a residential mortgage loan must be clearly shown on all residential mortgage loan application forms, solicitations or advertisements, including business cards or websites, and any other documents as established by rule, regulation or order of the Office of the State Bank Commissioner. |