Title 70D, Title 70D: Financial Institution Mortgage Financing Regulation Act

70D-2-201. Registration -- Exemptions. (1) Except as provided in Subsection, a person may not engage in business as a lender, broker, or servicer in this state before the day on which the person: (2) provides evidence satisfactory to the commissioner that the person is registered…

70D-2-203. Fees -- Examination. (1) A person required to register under this part shall pay to the commissioner: a fee of $200 with the person's initial registration; and an annual fee, on or before December 31 of each year, in an amount to be set by rule of the commissioner subj…

70D-2-301. Record retention. A lender, broker, or servicer shall keep and maintain at all times in its principal place of business the records of a mortgage loan transaction of the lender, broker, or servicer as required by the rules of the commissioner.

70D-2-302. Notice required with loan application. (1) If the following is the case, a lender and broker shall notify in writing a person from whom the lender or broker receives or for whom the lender or broker prepares a written application for a mortgage loan that: the mortgage …

70D-2-303. Notice upon closing -- Ongoing duty to notify -- Statements required. (1) At the time of closing of a mortgage loan, a lender shall notify the mortgagor in writing of: the name of the initial servicer that will service the loan; and the address at which a loan payment …

70D-2-304. Statement to be provided. (1) Unless a servicer regularly provides the information described in this Subsectionin a monthly statement to a mortgagor, the servicer shall deliver to a mortgagor, within 15 days after receipt of a written request, a statement of the mortga…

70D-2-305. Fee restrictions. (1) A lender or broker may not accept a fee or deposit from an applicant for a mortgage loan unless at the time the lender or broker accepts the fee or deposit there is a written statement: signed by the applicant; stating whether or not the fee or de…

70D-2-401. Qualification of manufactured home or mobile home as improvement to real property -- Requirements -- Removal from property. (1) Except as provided in this section, for purposes of this chapter, a manufactured home or mobile home is considered personal property. (2) For…

70D-2-401.5. Qualification of modular home as improvement to real property -- Requirements. (1) Except as provided in this section, for purposes of this chapter, a modular home is considered to be personal property. (2) Once a modular home is constructed on real property and the …

70D-2-501. Civil liability -- Misdemeanor. (1) A lender, broker, or servicer who violates this chapter is liable to an injured party for actual damages. In an action filed to determine the liability of a lender, broker, or servicer for damages under this chapter, the prevailing p…

70D-2-502. Enforcement -- Rulemaking -- Federal law. (1) The commissioner may: in accordance with: Title 63G, Chapter 4, Administrative Procedures Act receive and act on a complaint; take action designed to obtain voluntary compliance with this chapter; or commence a proceeding o…

70D-2-503. Investigation. (1) If the commissioner has probable cause to believe that a lender, broker, or servicer has violated a law, rule, or federal regulation relating to its business or an obligation to a mortgagor, the commissioner may investigate to determine if a violatio…

70D-2-504. Orders. (1) If the commissioner determines that a person engaging in business as a lender, broker, or servicer is violating, has violated, or the commissioner has reasonable cause to believe is about to violate this chapter or a rule of the commissioner made under this…

70D-2-505. Relief from order. A person aggrieved by a rule, order, temporary order, decision, ruling, or other act or failure to act by the commissioner under this chapter is entitled to judicial review as provided under.

70D-2-506. Civil liability. Nothing in this chapter limits any civil liability that may exist against a lender, broker, or servicer for breach of contract or other wrong committed against a mortgagor.