State-Specific Disclosures: Residence State?

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Question:

Are state-specific disclosures (such as home equity or ARM, etc.) specific to the borrower's residence state or the state of the originating bank is? If a borrower crosses a state line to use a branch nearer their home or a borrower is buying a vacation home in another state and goes to a bank in that state, which state applies to the disclosures?

Answer:

It will all be based on State law, but typically the laws of the State in which the property is located will prevail.