Title 445, TRADE AND COMMERCE

Sec. 4. (1) Except as otherwise provided in subsection (2), the service dealer shall return all parts removed from the appliance to the customer unless the customer declines, in writing, to receive the removed part. (2) The service dealer may retain any part that has a core charg…

Sec. 5. The final bill shall separately state in writing the following: (a) The name and address of the service dealer as described in section 3(2)(a). (b) Service call charges, if any. (c) The labor charge. (d) Parts charge, if any, including whether the parts were new or used a…

Sec. 6. (1) A service dealer shall provide a warranty for not less than 30 days on the service dealer's labor regarding the repair of the appliance. (2) Subsection (1) does not void, reduce, or supersede a warranty made by the manufacturer of the appliance and does not void any p…

Sec. 7. (1) A service dealer who makes a false statement of a character likely to influence, persuade, or induce a customer to authorize the repair, service, or maintenance of an appliance or who fails to substantially comply with the disclosure requirements of this act is subjec…

Sec. 1. This act shall be known and may be cited as the "consumer mortgage protection act".

Sec. 2. As used in this act: (a) "Commissioner" or "director" means the director of the department of insurance and financial services. (b) "Depository institution" means a bank, savings and loan association, savings bank, or credit union that is chartered under state or federal …

Sec. 3. A person shall broker, make, or service mortgage loans in accordance with all applicable state and federal laws.

Sec. 4. (1) A person offering to make or making a mortgage loan shall not do either of the following: (a) Charge a fee for a product or service if the product or service is not actually provided to the customer. (b) Misrepresent the amount charged by or paid to a third party for …

Sec. 5. A mortgage loan with a term of less than 5 years shall not have a payment schedule with regular periodic payments that when aggregated do not fully amortize the outstanding principal balance. This section does not apply to loans with maturities of less than 1 year, if the…

Sec. 6. (1) Subject to subsection (2), at the time a person applies for a mortgage loan, the lender shall provide the applicant with a copy of the special information booklet described in 12 CFR 1024.6, issued under the authority of the real estate settlement procedures act of 19…

Sec. 8. The commissioner may conduct examinations and investigations of a person over whom the commissioner has regulatory authority as necessary to determine whether the person is brokering, making, servicing, or collecting mortgage loans as required by this act.

Sec. 9. If the commissioner determines that a person is brokering, making, servicing, or collecting mortgage loans in violation of this act, the commissioner shall do 1 or more of the following: (a) Initiate a cause of action under section 10. (b) If the person is chartered, lice…

Sec. 10. The attorney general or the prosecuting attorney for the county where an alleged violation occurred may bring an action against a person to do 1 or more of the following: (a) Obtain a declaratory judgment that a method, act, or practice of the person is a violation of th…

Sec. 11. (1) A person is not liable for a violation under section 10 if the person shows that the violation was an unintentional and bona fide error notwithstanding the maintenance of procedures reasonably adopted to avoid the error. Examples of a bona fide error include clerical…

Sec. 12. This act does not limit the authority of the commissioner, the attorney general, or a county prosecutor to enforce any law under which a person is chartered, organized, licensed, registered, regulated, or otherwise authorized to do business in this state.

Sec. 13. (1) The department of insurance and financial services shall develop and make available to local units of government, financial institutions, and other interested persons 1 or more model programs for financial education. (2) The program required under this section shall …

Sec. 14. (1) The federal government and state solely regulate the business of brokering, making, servicing, and collecting mortgage loans in this state and the manner in which any such business is conducted. (2) Any charter, ordinance, resolution, regulation, rule, or other actio…

Sec. 15. (1) The laws of this state relating to the brokering, making, servicing, and collecting of mortgage loans prescribe rules of conduct upon citizens generally, comprise a comprehensive regulatory framework intended to operate uniformly throughout the state under the same c…