When negotiations for a loan begin, and prior to any formal application for loan or the payment of any fees or costs required with the filing of an application, the lender shall notify the borrower of his rights regarding the placing of insurance. Such notice shall be given to said borrower in the form prescribed by the Chief Financial Officer in Fl. Admin. Code R. 69B-124.013, in writing, with a copy of said notice to be signed by the borrower and retained by the lender. Nothing in this rule shall be construed to mean that this notice shall be a part of the mortgage contract.
Rulemaking Authority 624.308, 626.9611 FS. Law Implemented 624.307(1), 626.9551(1) FS. History-New 12-24-74, Formerly 4-3.02, 4-3.002, 4-124.002.