HARRISBURG, Penn. -- A regulation requiring mortgage companies to use a Department of Banking-mandated disclosure form to protect borrowers is being proposed to the Commonwealth's Independent Regulatory Review Commission.
The recommendation follows a study of mortgage disclosures performed by the department in 2005. That study followed an earlier request from the General Assembly asking the banking department for a statewide study on mortgage foreclosures in the state, said Heather Tyler, communications director, Pennsylvania's Department of Banking.
What the study showed, Tyler said, were widespread issues with appraisals, brokers and lenders. The …
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