Title 12, Professions and Occupations
0 chapters · 1,262 sections in this title.
Colo. Rev. Stat. § 12-10-722 Rule-making authority
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The board has the authority to promulgate rules as necessary to enable the board to carry out the board's duties under this part 7. Source: L. 2019: Entire title R&RE with relocations, (HB 19-1172), ch. 136, p. 710, � 1, effective October 1. Editor's note: This section is similar…
Colo. Rev. Stat. § 12-10-723 Acts of employee - mortgage loan originator's liability
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An unlawful act or violation of this part 7 upon the part of an agent or employee of a licensed mortgage loan originator shall not be cause for disciplinary action against a mortgage loan originator unless it appears that the mortgage loan originator knew or should have known of …
Colo. Rev. Stat. § 12-10-724 Dual status as real estate broker - requirements
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(1) Unless a mortgage loan originator complies with both subsections (2) and (3) of this section, he or she shall not act as a mortgage loan originator in any transaction in which: (a) The mortgage loan originator acts or has acted as a real estate broker or salesperson; or (b) A…
Colo. Rev. Stat. § 12-10-725 Written disclosure of fees and costs - contents - limits on fees - rules
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(1) A mortgage loan originator’s disclosures must comply with all applicable requirements of: (a) The federal “Truth in Lending Act”, 15 U.S.C. sec. 1601 et seq., and Regulation Z, 12 CFR 226 and 12 CFR 1026; (b) The federal “Real Estate Settlement Procedures Act of 1974”, 12 U.S…
Colo. Rev. Stat. § 12-10-726 Fee, commission, or compensation - when permitted - amount
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(1) Except as otherwise permitted by subsection (2) or (3) of this section, a mortgage loan originator shall not receive a fee, commission, or compensation of any kind in connection with the preparation or negotiation of a residential mortgage loan unless a borrower actually obta…
Colo. Rev. Stat. § 12-10-727 Confidentiality
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(1) Except as otherwise provided in the federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008, 12 U.S.C. sec. 5111, the requirements under any federal law or law of this state regarding privacy or confidentiality of any information or material provided to the nat…
Colo. Rev. Stat. § 12-10-728 Mortgage call reports - reports of violations
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(1) The board may require each licensee or registrant to submit to the nationwide mortgage licensing system and registry mortgage call reports, which shall be in the form and contain the information required by the nationwide mortgage licensing system and registry. (2) The board …
Colo. Rev. Stat. § 12-10-729 Unique identifier - clearly displayed
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Each person required to be licensed or registered shall show his or her or the entity's unique identifier clearly on all residential mortgage loan application forms and any other documents as specified by the board by rule or order. Source: L. 2019: Entire title R&RE with relocat…
Colo. Rev. Stat. § 12-10-730 Repeal of part - subject to review
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(1) This part 7 is repealed, effective September 1, 2029. (2) Before the repeal, the licensing of mortgage loan originators and the registration of mortgage companies is scheduled for review in accordance with section 24-34-104. The department shall include in its review of mortg…
Colo. Rev. Stat. § 12-10-801 HOA information and resource center - creation - duties - rules - subject to review - repeal
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(1) There is created, within the division, the HOA information and resource center, the head of which is the HOA information officer. The HOA information officer shall be appointed by the director. (2) The HOA information officer shall be familiar with the “Colorado Common Intere…
Colo. Rev. Stat. § 12-10-901 Definitions
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As used in this part 9, unless the context otherwise requires: (1) Gas-fueled appliance means a furnace, HVAC system, boiler, water heater, oven, stove, or dryer that directly combusts a gaseous or liquid fuel to provide services within a home. (2) Heat pump means an electrical d…
Colo. Rev. Stat. § 12-10-902 Purchase of service contract not compulsory
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A company selling, offering to sell, or effecting the issuance of a home warranty service contract under this part 9 shall not in any manner require a home buyer or seller, or prospective home buyer or seller, or person refinancing a home to purchase a home warranty service contr…
Colo. Rev. Stat. § 12-10-903 Contract requirements
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(1) Every home warranty service contract shall contain the following information: (a) A specific listing of all items or elements excluded from coverage; (b) A specific listing of all other limitations in coverage, including the exclusion of preexisting conditions if applicable; …
Colo. Rev. Stat. § 12-10-904 Penalty for violation
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Any person who knowingly violates any provision of this part 9 commits a class 2 misdemeanor and shall be punished as provided in section 18-1.3-501. Each instance of violation shall be considered a separate offense. Source: L. 2019: Entire title R&RE with relocations, (HB 19-117…
Colo. Rev. Stat. § 12-10-905 Prohibitions
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It is unlawful for any lending institution to require the purchase of a home warranty service contract as a condition for granting financing for the purchase of the home. Source: L. 2019: Entire title R&RE with relocations, (HB 19-1172), ch. 136, p. 716, � 1, effective October 1.…
Colo. Rev. Stat. § 12-10-906 Repeal of part - subject to review
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This part 9 is repealed, effective September 1, 2026. Before the repeal, this part 9 is scheduled for review in accordance with section 24-34-104. Source: L. 2019: Entire title R&RE with relocations, (HB 19-1172), ch. 136, p. 716, � 1, effective October 1. L. 2020: Entire section…