45-739 Transfer of servicing rights; duties. - Nebraska Statutes

45-739. Transferof servicing rights; duties.Not less than fifteen days priorto the effective date of the transfer of servicing rights involving any residential mortgage loan,the licensee transferring the servicing rights shall send a written noticeof transfer to each borrower which shall include:(1) The effective date of the transfer;(2) The name, address, and telephone number of the transferee and thename of a referral person or department of the transferee;(3) Instructions concerning payments made before the effective dateof the transfer; and(4) Instructions concerning payments made after the effective date ofthe transfer.The provisions of this section shall not apply when the licensee transferringthe servicing rights has provided the borrower with a written notice of transferat the time of closing on the residential mortgageloan. SourceLaws 1989, LB 272, § 16; Laws 1996, LB 1053, § 12; R.S.1943, (2004), § 45-713; Laws 2009, LB328, § 24.