Title 9-A, Title 9-A

1. A creditor that accepts an application for consumer credit transaction involving one to 4 residential units and that requires that an attorney search the title of the subject real estate shall permit the prospective mortgagor to select a qualified attorney of the prospective m…

No consumer credit transaction secured by a mortgage on real estate may be assigned under this article unless: [PL 1987, c. 396, §12 (NEW).] 1. The creditor entering into the agreement retains servicing of the account and either maintains a place of business in this State or main…

A creditor, including any of its assignees, that enters into consumer credit transactions secured by a mortgage on real estate and which holds funds of a mortgagor in an escrow account for the payment of taxes or insurance premiums, either on its own behalf or on behalf of anothe…

1. Payments from escrow. A creditor, assignee or servicer that holds or controls funds of a consumer in an escrow account for the payment of taxes or insurance premiums shall make timely payments from that escrow account for a consumer credit transaction secured by a mortgage on …

A creditor, assignee or servicer shall respond to a request for a payoff figure within 3 business days following receipt of such a request from a consumer or an agent of the consumer for a consumer credit transaction secured by a mortgage on real estate. The response must include…

A consumer is not obligated to make payments on a consumer credit transaction to any creditor, other than the original creditor, until the consumer receives notification of assignment of rights to payment and that payment is to be made to the assignee. A notification that does no…

1. The creditor shall give or send to a consumer, without request, a written receipt for each payment by coin or currency on an obligation pursuant to a consumer credit transaction. Sending to the consumer a periodic statement showing a payment received by mail complies with this…

A consumer may prepay in full or in part the unpaid balance of a consumer credit transaction that is an alternative mortgage transaction, as defined in section 9‑302, subsection 1, at any time without penalty.

A creditor that imposes a fee on a person for the cost of an appraisal of any real estate shall furnish to the person, at no cost, one copy of the appraisal upon request, if the request is made within 90 days after the creditor has provided notice of action taken on the applicati…

A creditor shall comply with the provisions of the federal Gramm-Leach-Bliley Act, 15 United States Code, Section 6801 et seq. (1999) and the applicable implementing federal Privacy of Consumer Information regulations as adopted by the Office of the Comptroller of the Currency, 1…

A creditor may not, in connection with the extension of credit, interfere with a purchaser's or borrower's free choice of an accounting, tax or attest services provider who is accredited as a certified public accountant, public accountant or enrolled agent, except that the credit…

A creditor and its mortgage loan originators shall comply with the provisions of the federal Real Estate Settlement Procedures Act of 1974, 12 United States Code, Section 2601 et seq. and its implementing regulation, Regulation X, 12 Code of Federal Regulations, Section 1024.1 et…

A supervised lender, or any mortgage loan originator of a supervised lender, may not knowingly permit, encourage or assist a consumer to submit false information on any application for credit, nor may a supervised lender or mortgage loan originator of a supervised lender knowingl…

If a supervised lender charges a consumer a fee to lock in a certain interest rate for a certain length of time, that supervised lender shall: [PL 2007, c. 273, Pt. A, §27 (NEW); PL 2007, c. 273, Pt. A, §41 (AFF).] 1. Take steps that are necessary to actually secure or guarantee …

A supervised lender may not impose a prepayment penalty provision through use of a rider or amendment to the loan contract if the terms of the loan contract state that no such prepayment penalty may be imposed or that such a penalty is not specifically authorized under state law.

1. Definitions. As used in this section, unless the context otherwise indicates, the following terms have the following meanings. A. "Private mortgage insurance" has the same meaning as in the federal Homeowners Protection Act of 1998, as in effect on January 1, 2023, 12 United S…

A creditor or a person acting for a creditor may not induce a consumer to enter into a consumer credit transaction by misrepresentation of a material fact with respect to the terms and conditions of the extension of credit. A consumer so induced may rescind the sale, lease or loa…

1. With respect to a consumer credit transaction, if the court as a matter of law finds: A. The agreement to have been unconscionable at the time it was made, or to have been induced by unconscionable conduct, the court may refuse to enforce the agreement; or [PL 1987, c. 396, §1…

1. In attempting to collect an alleged debt arising from a consumer credit transaction, a person shall not: A. Use or threaten force or violence; [PL 1987, c. 396, §12 (NEW).] B. Threaten criminal prosecution; [PL 1987, c. 396, §12 (NEW).] C. Disclose or threaten to disclose info…

At any time after the entry of a judgment in favor of a creditor against a consumer in an action arising from a consumer credit transaction, the court, for cause and upon motion of a party or on its own motion, while such court retains jurisdiction, may stay enforcement of the ju…

1. If a creditor, assignee or servicer has violated the provisions of this article applying to timely payments from escrow, section 9‑305‑A, timely responses to requests for payoff figures, section 9‑305‑B, misrepresentation, section 9‑401, or illegal, fraudulent or unconscionabl…

Refunds or penalties to which the consumer is entitled pursuant to this Part may be set off against the consumer's obligation and may be raised as a defense to a suit on the obligation without regard to the time limitations prescribed by this Part.

Any creditor, any officer or employee of a creditor, or any other person who willfully and knowingly violates this article, or directly or indirectly counsels, aids or abets that violation, shall be punished by a fine of not more than $2,500 for each offense or by imprisonment fo…

Any violation of this article constitutes a violation of the Maine Unfair Trade Practices Act.