Kansas Servicing Reference Guide
- Kacey Olson
Owned by Kacey Olson
| Citation | Topic | Requirement |
| Uniform Consumer Credit Code / Kan. Stat. Ann. §16a-2-104 | Acceptance of Delinquent Payments | A lender must credit a payment to a borrower's account on the date of receipt, except when a delay in crediting does not result in a finance charge or other charge. However, if the lender specifies, in a writing delivered to the borrower, reasonable requirements for the consumer to follow in making payments, but accepts a payment that does not conform to those requirements, then the lender must credit the payment within 5 days after receipt. |
| KS Uniform Consumer Credit Code | Kan. Stat. Ann. §16a-2-502(1) | Late Payment Fees | 16a-2-502. (UCCC) Delinquency charges. (1) The parties to a consumer credit transaction may contract for a delinquency charge on any installment not paid in full within 10 days after its scheduled or deferred due date in an amount not exceeding 5% of the unpaid amount of the installment or $25, whichever is less. |
| Uniform Consumer Credit Code / Kan. Stat. Ann. §16a-5-110(1) | Notice of Consumer Right to Cure | After a borrower has been in default for 10 days for failure to make a required payment, a lender may give a notice of default by delivering the notice to the borrower or mailing the notice to the address of the borrower's residence. The notice must be in writing and must conspicuously state: (1) the name, address, and telephone number of the creditor; (2) a brief description of the credit transaction; (3) the consumer's right to cure the default; (4) the amount of payment and date by which payment must be made to cure the default; and (5) the consumer's possible liability for the reasonable costs of collection, including, but not limited to, court costs, attorney fees and collection agency fees. |
| Procedure, Civil / Kan. Stat. Ann. §60-2410(a) | Notice of Sale | Lands taken by execution may not be sold until the officer gives public notice of the time and place of the sale once each week for 3 consecutive weeks prior to the day of sale. The notice of sale must be published in the county in which the judgment was rendered and in the county in which the land and tenements are located. Each publication must be in an appropriate newspaper which is designated by the party ordering the sale. The last publication must not less than 7 days nor more than 14 days prior to the day of sale. |
| Kan. Stat. Ann. §58-2338 | Notice of Transfer of Servicing | If the servicing of a home loan is sold or assigned to another person, the seller lender must notify the mortgagor no more than 10 business days after the actual date of transfer. |
| Uniform Consumer Credit Code / Kan. Stat. Ann. §16a-3-205(1) | Receipts of Statements of Accounts | Licensees must deliver to the borrower, without request, a written receipt for each payment by coin or currency on an obligation pursuant to a consumer credit transaction. A periodic statement showing a payment received by mail complies with this requirement. |
| Personal and Real Property / Kan. Stat. Ann. §58-319 | Release of Lien | Whenever any mortgage or other instrument that was filed in the office of the register of deeds of any county has been satisfied or paid, it is the duty of the register of deeds, after making a proper entry of satisfaction or payment in the record where the instrument is recorded, to return the original, or the copy, to the mortgagor. If the mortgagor cannot be found within 2 years subsequent to the payment or satisfaction, the register of deeds must destroy the mortgages or other instruments of writing remaining in his or her office by burning them in the presence of the county commissioners, a note or list of the instruments to be destroyed having been entered in the index book for mortgages. |
| Uniform Consumer Credit Code / Kan. Stat. Ann. §16a-3-205(2) | Written Requests | Upon written request of the borrower, the lender, must provide a written statement of the dates and amounts of payments made within the past 15 months and the total amount unpaid. The statement must be provided without charge. |