Mortgage Loan Originators should be aware that on July 16, 2025, the Colorado Board of Mortgage Loan Originators held a Regular Meeting and Rule-Making Hearing. After notice and comment, the Board reviewed Chapter 5: Professional Standards of the rules governing Mortgage Loan Originators, found at 4 CCR 725-3.
During the July 16 hearing, the Board discussed two options: (1) revising the Tangible Net Benefit Disclosure form and when it should be used, or (2) repealing the relevant rules that required Mortgage Loan Originators to provide the Tangible Net Benefit Disclosure form to consumers. The Board voted to repeal Rules 5.7 and 5.8
Importantly, the new rules take effect on September 30, 2025. Therefore, Mortgage Loan Originators should continue to include Rules 5.7 and 5.8 in their practice until September 30, 2025. Thereafter, practitioners are no longer required to use the Tangible Net Benefit Disclosure Form. The form will be removed from the Division’s website when the new rules take effect.
The latest rules for the Mortgage Loan Originators Program, along with the rules governing Real Estate Brokers and Real Estate Appraisers, can be reviewed on the Division’s website. On that page, select the correct program, and users will be directed to the Colorado Secretary of State’s website for the rules. Reviewing the latest rules by all licensees is a best practice to better understand their roles and duties:
Division Program Rules and Rule Making Webpage