9-A §14-106. Assistance by exempt organization; report
§14-106. Assistance by exempt organization; report An exempt organization that is requested by the student loan ombudsman to provide assistance pursuant to section 14‑104, subsection 8 shall provide, in a timely manner, the information requested by the ombudsman necessary to investigate and resolve a student loan borrower complaint, including the steps taken by the exempt […]
9-A §13-111. Nationwide mortgage licensing system and registry information challenge process
§13-111. Nationwide mortgage licensing system and registry information challenge process The administrator shall establish a process by which mortgage loan originators may challenge information entered into the nationwide mortgage licensing system and registry by the administrator. [PL 2009, c. 362, Pt. B, §1 (NEW).] SECTION HISTORY PL 2009, c. 362, Pt. B, §1 (NEW).
9-A §14-107. Licensing of student loan servicers
§14-107. Licensing of student loan servicers A person may not act as a student loan servicer, directly or indirectly, without first obtaining a license from the superintendent pursuant to this section, unless that person is exempt from licensure pursuant to subsection 1. [PL 2019, c. 431, §2 (NEW); PL 2019, c. 431, §4 (AFF).] […]
9-A §13-112. Enforcement authorities, violations and penalties
§13-112. Enforcement authorities, violations and penalties 1. Enforcement. In order to ensure the effective supervision and enforcement of this Article, the administrator may, pursuant to this Title and the Maine Administrative Procedure Act: A. Deny, suspend, revoke, condition or decline to renew a license for a violation of this Article or rules issued under […]
9-A §14-108. Student loan servicers
§14-108. Student loan servicers 1. Definition. As used in this section, “nonconforming payment” means a payment on a student education loan of a student loan borrower that is different than the required payment. [PL 2019, c. 431, §2 (NEW); PL 2019, c. 431, §4 (AFF).] 2. Requirements. Except as otherwise provided in federal law, […]
9-A §13-113. Surety bond or minimum net worth requirements
§13-113. Surety bond or minimum net worth requirements Mortgage loan originators must comply with either subsection 1 or subsection 2. [PL 2009, c. 362, Pt. B, §1 (NEW).] 1. Surety bond. Unless in compliance with subsection 2, a mortgage loan originator must be covered by a surety bond in accordance with this subsection. […]
9-A §14-109. Superintendent powers and duties
§14-109. Superintendent powers and duties 1. Investigations and examinations. The superintendent has the authority to conduct investigations and examinations as follows. A. For purposes of initial licensing, license renewal, license suspension, license revocation or termination or general or specific inquiry or investigation to determine compliance with this Article, the superintendent may access, receive and […]
9-A §13-114. Confidentiality
§13-114. Confidentiality 1. Protections. Notwithstanding any provision of law to the contrary and except as otherwise provided in federal Public Law 110-289, Section 1512, the requirements under any federal or state law regarding the privacy or confidentiality of any information or material provided to the nationwide mortgage licensing system and registry and any privilege arising […]
9-A §13-115. Investigation and examination authority
§13-115. Investigation and examination authority In addition to any authority allowed under this Article, the administrator may conduct an investigation and examination as follows. [PL 2009, c. 362, Pt. B, §1 (NEW).] 1. Authority to access information. For purposes of initial licensing, license renewal, license suspension, license conditioning, license revocation or termination or general […]
9-A §13-116. Prohibited acts and practices
§13-116. Prohibited acts and practices It is a violation of this Article for an individual or a person subject to this Article to: [PL 2009, c. 362, Pt. B, §1 (NEW).] 1. Defraud; mislead. Directly or indirectly employ any scheme, device or artifice to defraud or mislead borrowers or lenders or to defraud a […]