DocMagic, Inc. is now making available in Maine predisclosure packages where the origination type is broker a Maine Notice to Consumers ("Notice") (MENTC.DSC). The Notice mirrors the model form provided by the Office of Consumer Credit Regulation and is based on Me. Rev. Stat. Ann. tit. 9-A, Section 10-303, which states:

Before any agreement is entered into, or before any money is paid by a consumer, whichever occurs first, the loan broker shall provide the consumer with written disclosure of material consumer protections, including the following:

1. The existence and purpose of the surety bond on file with the State, and the procedure for instituting an action against that bond;

2. The requirement that all fees from the consumer, other than bona fide 3rd-party fees, be placed in an escrow account; and

3. The requirement for a written, signed agreement between the parties.

If you have any questions about this Maine disclosure, please contact DocMagic Inc.'s Compliance Department.