Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wp-migrate-db domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /srv/app/gotoiba-dev/htdocs/web/wp-includes/functions.php on line 6121
Our mortgages state that we are a “banking corporation” and it uses an ampersand (&) instead of the word “and.” Do we need to change our mortgage forms? – IBA Compliance Connection

IBA Compliance Connection

Your go to source for compliance!

Our mortgages state that we are a “banking corporation” and it uses an ampersand (&) instead of the word “and.” Do we need to change our mortgage forms?

—

by

We would recommend describing the mortgagee as a “corporation,” as we are not aware of any business entity that would be referred to as a banking corporation.

As to the use of an ampersand in the name of the mortgagee (rather than spelling out “and”), we do not believe that this minor discrepancy would create any issues. Going forward, we would recommend matching the exact name of the mortgagee, including any punctuation.