2.59.1755    DEFINITION OF "ALTER" FOR MORTGAGE LICENSEES

(1) The word "alter" as used in 32-9-124(1)(l), MCA, means that loan documents may not be revised by:

(a) using correction fluid, correction tape, or any other means of changing or covering over a date or signature not on the original;

(b) inserting a signature or date not on the original; or

(c) making any other change to a document.

(2) To correct an error in a loan document, the licensee shall either:

(a) reprint the document, have it re-signed, and retain the original document noting in the file why the document was reprinted and re-signed; or

(b) strike out the error, put the correct text beside it, and initial and date the change.

 

History: 32-9-130, MCA; IMP, 32-9-124, MCA; NEW, 2017 MAR p. 1516, Eff. 9/9/17.