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S. B. No. 2711 *SS26/R1264CS* ~ OFFICIAL ~ G1/2
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To: Business and Financial
Institutions
MISSISSIPPI LEGISLATURE REGULAR SESSION 2026
By: Senator(s) Johnson
COMMITTEE SUBSTITUTE
FOR
SENATE BILL NO. 2711
AN ACT TO AMEND SECTION 81-18-33, MISSISSIPPI CODE OF 1972, 1
TO CLARIFY AND REVISE THE REQUIRED CONTENTS OF INDIVIDUAL BORROWER 2
FILES AND INDIVIDUAL SERVICER FILES; AND FOR RELATED PURPOSES. 3
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI: 4
SECTION 1. Section 81-18-33, Mississippi Code of 1972, is 5
amended as follows: 6
81-18-33. (1) The individual borrower files of a licensee 7
shall contain at least the following: 8
(a) A mortgage origination agreement provided to the 9
borrower containing at least the following statements: 10
(i) "As required by Mississippi Law, (licensed 11
company name) has secured a bond issued by (name of insurance 12
company), a surety company authorized to do business in this 13
state. A certified copy of this bond is filed with the 14
Mississippi Commissioner of Banking and Consumer Finance." 15
(ii) "As a borrower you are protected under the 16
Mississippi S.A.F.E. Mortgage Act." 17
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(iii) "Complaints against a licensee may be made 18
by contacting the: 19
Mississippi Department of Banking and 20
Consumer Finance 21
P.O. Drawer 12129 22
Jackson, MS 39236-2129"; 23
(b) A copy of the original loan application signed and 24
dated by the licensee; 25
(c) A copy of the signed closing statement * * * if 26
required under federal law or documentation of denial or 27
cancellation of the loan application; 28
(d) A copy of the loan estimate of costs provided to 29
the borrower if required under federal law; 30
(e) A copy of the appraisal or statement of value if 31
procured as a part of the loan application process; 32
(f) A copy of a loan lock-in agreement, if any, 33
provided by the licensee; 34
(g) A copy of * * * all disclosures required * * * to 35
be provided under applicable federal law or regulations and 36
evidence that those disclosures have been properly and timely made 37
to the borrower; 38
(h) A copy of * * * one (1) of the following: 39
(i) A final signed Uniform Residential Loan 40
Application; 41
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(ii) An alternative application that is otherwise 42
compliant with federal and state law from any mortgage licensee 43
who holds a license under the provisions of the Small Loan 44
Regulatory Law, Section 75-67-101 et seq., and the Small Loan 45
Privilege Tax Law, Section 75-67-201 et seq.; or 46
(iii) An alternative application that is compliant 47
with federal and state law for any loan secured or to be secured 48
at least in part by any dwelling (as that term is defined in 49
Section 103(v) of the Truth in Lending Act) that was constructed 50
in whole or in substantial part off-site in a manufacturing 51
facility and transported to the site of installation for use as a 52
permanent or long-term residential structure; and 53
(i) Additional information as required per the rules 54
and regulations adopted by the commissioner according to Section 55
81-18-29. 56
(2) The individual servicer files of a licensee shall 57
contain at least the following: 58
(a) A copy of the original initial loan application 59
signed and dated by the licensee or originating lender; 60
(b) A copy of the final loan application signed and 61
dated by the licensee or originating lender; 62
(c) A copy of the signed closing statement * * * if 63
required by federal law or documentation of denial or cancellation 64
of the loan application; 65
(d) Modification agreements; 66
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ST: Individual borrower files and individual
servicer files; clarify and revise the required
contents of.
(e) Collection/default letters and related 67
documentation; 68
(f) Addendums, riders, assigned note, if applicable; 69
(g) Complete pay history from the time the loan was 70
transferred or boarded; 71
(h) Complete comment/note history from the time the 72
loan was transferred or boarded; and 73
(i) Additional information as required per the rules 74
and regulations of this chapter as deemed by the commissioner 75
according to Section 81-18-29. 76
(3) No provision of this act and/or rules or regulations of 77
the department shall be interpreted to require a licensee to 78
provide and/or retain disclosures required by federal law or 79
regulation unless such federal disclosures are required to be 80
provided by federal law or regulation. 81
SECTION 2. This act shall take effect and be in force from 82
and after July 1, 2026. 83