A Georgia lender delivers the required disclosures in 2026 and keeps no signed acknowledgment from the applicant. What written acknowledgment record is required for the state disclosures?
Correct Answer
C) Deficient: the applicant acknowledges in writing and a copy is kept
The disclosures the rule names must be acknowledged in writing by the applicant, the lender or broker must keep a copy of the acknowledgment, and a copy must be given to the applicant. Other choices: delivery is half of it; a file note is the lender own record rather than the applicant acknowledgment; and no notarization is required. Source: Ga. Comp. R. & Regs. 80-11-1-.01(6)
Why This Is the Correct Answer
The disclosures the rule names must be acknowledged in writing by the applicant, the lender or broker must keep a copy of the acknowledgment, and a copy must be given to the applicant. Other choices: delivery is half of it; a file note is the lender own record rather than the applicant acknowledgment; and no notarization is required. Source: Ga. Comp. R. & Regs. 80-11-1-.01(6)
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