Mississippi passed a bill amending the S.A.F.E. Mortgage Act. Under the bill, a mortgage lender and broker must now maintain an individual borrower file that contains a copy of 1 of the following (in addition to several other documents that are already required to be maintained):
- A final signed Uniform Residential Loan Application; and
- An alternative application that is otherwise compliant with federal and state law from any mortgage lender and broker who holds a license under the provisions of the Small Loan Regulatory Law and the Small Loan Privilege Tax Law; or
- An alternative application that is compliant with federal and state law for any loan secured or to be secured at in part by any dwelling that was constructed in whole or in substantial part off-site in a manufacturing facility and transported to the site of installation for use as a permanent or long-term residential structure.
The bill becomes effective July 1, 2026.
Click to view the Mississippi Seante Bill 2711: https://www.tenaco.com/wp-content/uploads/2026/03/MS-SB-2711-03-17-26.pdf
