§ 47.3. Provision of mortgage loan modification counseling to borrowers.
A licensee who wishes to provide mortgage loan modifications for mortgage loans other than those held or serviced by the licensee should do one of the following:
(1) Be approved as a counselor by a government agency or employed by a counselor approved by a government agency and follow the rules, regulations, policies and guidelines of the approving government agency.
(2) Verify and document that the borrower has received counseling regarding mortgage loan modifications from a counselor approved by a government agency.
Cross References This section cited in 10 Pa. Code § 47.5 (relating to improper activities regarding mortgage loan modifications).
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