(Washington, DC) - The District of Columbia law contains valuable information you should know. The District of Columbia Department of Insurance, Securities and Banking (DISB) has outlined below important information, created for your protection, which your mortgage broker or lender is required to provide before closing your loan. This will help you in recognizing some of the possible lending abuses and violations that may occur during the process. It will also help you in determining whether your mortgage broker or lender may be engaging in predatory lending practices in violation of District law.
To ensure that your interests are protected, DISB strongly recommends that you seek assistance or advice from an attorney, a DC housing counselor or a financial advisor, before you sign any loan documents.
If you are planning to purchase a home in the District of Columbia or refinance your existing mortgage, this notice concerns you.