R20-4-519. Deferment Statement

A licensee shall give the borrower a statement at the time it agrees to a deferment and shall retain a copy of the statement in the borrower’s credit file. The statement shall contain the following information: 1. The amount of the deferral fee, 2. The date of the borrower’s next scheduled payment, 3. The amount of the borrower’s next scheduled payment, and 4. The extended maturity date of the loan.