45-739. Transfer of servicing rights; duties.
Not less than fifteen days prior to the effective date of the transfer of servicing rights involving any residential mortgage loan, the licensee transferring the servicing rights shall send a written notice of 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 the name of a referral person or department of the transferee;
(3) Instructions concerning payments made before the effective date of the transfer; and
(4) Instructions concerning payments made after the effective date of the transfer.
The provisions of this section shall not apply when the licensee transferring the servicing rights has provided the borrower with a written notice of transfer at the time of closing on the residential mortgage loan.
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