2016 Mississippi Code
Title 81 - Banks and Financial Institutions
Chapter 18 - Mississippi S.A.F.E. Mortgage Act
In General (§§ 81-18-1 - 81-18-55)
§ 81-18-35. Journal of mortgage transactions for Mississippi residential loans that licensee originates and/or funds; journal of serviced loans for Mississippi residential loans that licensee owns and/or services [Repealed effective July 1, 2020]

(1) Each licensee shall maintain a journal of mortgage transactions at the principal place of business as stated on its license for all Mississippi residential loans that the licensee originated and/or funded. This journal shall be separate from non-Mississippi loans. The journal shall include at least the following information:

(a) Name of applicant and co-applicant, if applicable;

(b) Date of application;

(c) Disposition of loan application, indicating date of loan closing, loan denial, withdrawal and name of lender if applicable;

(d) Property address;

(e) Loan amount;

(f) Terms;

(g) Loan program; and

(h) Loan originator.

(2) Each licensee shall maintain a journal of serviced loans at the principal place of business as stated on its license, for all Mississippi residential loans that the licensee owns and/or services. This journal shall be kept separate from non-Mississippi loans. The journal shall include at least the following information:

(a) The number of mortgage loans the licensee is servicing;

(b) The type and characteristics of the loans;

(c) The number of serviced loans in default, along with a breakdown of thirty-, sixty- and ninety-day delinquencies;

(d) Information on loss mitigation activities, including details on workout arrangements undertaken and date loss mitigation application was submitted/approved/denied;

(e) Information on foreclosures commenced and completed;

(f) Name of applicant and co-applicant, if applicable; and

(g) Date the loan was boarded/deboarded, if applicable.