Section 401.5 – Qualification of modular home as improvement to real property — Requirements.
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 modular home is taxed as real property, it is presumed […]
Section 501 – Civil liability — Misdemeanor.
70D-2-501. Civil liability — Misdemeanor. (1) (a) A lender, broker, or servicer who violates this chapter is liable to an injured party for actual damages. (b) In an action filed to determine the liability of a lender, broker, or servicer for damages under this chapter, the prevailing party is entitled to court costs and attorney […]
Section 502 – Enforcement — Rulemaking — Federal law.
70D-2-502. Enforcement — Rulemaking — Federal law. (1) The commissioner may: (a) in accordance with Title 63G, Chapter 4, Administrative Procedures Act: (i) receive and act on a complaint; (ii) take action designed to obtain voluntary compliance with this chapter; or (iii) commence a proceeding on the commissioner’s own initiative to enforce compliance with this […]
Section 503 – Investigation.
70D-2-503. Investigation. (1) (a) 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 violation has been committed. (b) To the extent necessary for an […]
Section 504 – Orders.
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 chapter, the commissioner may: (a) order the person to […]
Section 505 – Relief from order.
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 Title 63G, Chapter 4, Administrative Procedures Act. Renumbered and Amended by Chapter 72, 2009 General Session
Section 506 – Civil liability.
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. Renumbered and Amended by Chapter 72, 2009 General Session
Section 305 – Fee restrictions.
Effective 5/13/2014 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: (a) signed by the applicant; (b) stating whether or not the fee or […]
Section 401 – Qualification of manufactured home or mobile home as improvement to real property — Requirements — Removal from property.
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 purposes of this chapter, if the requirements of this section are met, […]
Section 103 – Exemptions.
70D-2-103. Exemptions. This chapter does not apply to: (1) a bona fide nonprofit corporation that grants a first mortgage loan to promote home ownership for low and moderate income borrowers; (2) an agency of the following that grants a first mortgage loan under a specific federal or state law: (a) the federal government; (b) a […]