Home Loan and Mortgage Disclosure Act, 2000

Regulations

Home Loan and Mortgage Disclosure Regulations, 2007

2. Disclosure and reporting

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(1)

(a)financial institution must collect and capture the information set out in Annexure "A" to these regulations in respect of each application;
(b)subject to subregulation (3); a financial institution must, within 60 days of each financial year end, submit to the Office the information contemplated in paragraph (a) in electronic form; and
(c)a financial institution must, in its annual financial statements and under a separate heading entitled "Disclosure Requirements in terms of the Home Loan and Mortgage Disclosure Act, 2000", disclose the information set out in Annexure "B".

 

(2)In capturing, or reporting on any amount in rand as required by these regulations, the amount must be rounded off to the nearest thousand rand.

 

(3)The Office may request a copy of the information referred to in subregulation (1)(b) in hard copy.