Mortgages insured or guaranteed by the United States veterans' administration - Notice
N.D. Cent. Code § 35-03-01.3
in effect35-03-01.3. Mortgages insured or guaranteed by the United States veterans'
administration - Notice.
The following statement must be signed at the time of the loan application by both the
borrower and lender on loans that are insured or guaranteed by the United States veterans'
administration:
I understand that the veterans' administration may attempt to hold me liable for the
guarantee it offers the lending institution on this mortgage. I understand that it may be
alleged that I may remain liable for the amount guaranteed by the veterans' administration if
this mortgage is foreclosed or if the property is sold by me without first obtaining an
approved release of liability from the veterans' administration. I also understand that it may
be alleged that North Dakota law governing deficiency judgments may not apply to the
collection of loans guaranteed by the veterans' administration. By signing this statement, I
am indicating that the contents of this statement have been explained to me by a loan
officer representing the lending institution offering this mortgage loan.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://ndlegis.gov/cencode/t35c03.pdf#nameddest=35-03-01p3Fetched: 10/16/2026