Finance
Pennsylvania's Act 91 notice is related to:
AThe state deed transfer tax collection process
BA mandatory pre-foreclosure notice to borrowers informing them of assistance programs✓ Correct
CThe licensing requirement for mortgage originators
DThe disclosure of mortgage prepayment penalties
Explanation
Pennsylvania's Act 91 (Homeowner's Emergency Mortgage Assistance Program) requires lenders to send an Act 91 notice to borrowers at least 30 days before filing for foreclosure. This notice informs homeowners of the HEMAP program, which may provide emergency mortgage assistance.
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