Section 301 – Prelicensing education.
70D-3-301. Prelicensing education. (1) Before an individual may be licensed under this chapter, the individual shall complete the number of hours of prelicensing education required by rule made by the commissioner. (2) (a) The commissioner shall make the rules described in Subsection (1): (i) in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act; […]
Section 302 – Examination.
70D-3-302. Examination. (1) Before an individual may be licensed under this chapter, the individual shall pass a written examination that: (a) meets the requirements of 12 U.S.C. Sec. 5104(d); (b) is developed by the nationwide database; and (c) is administered by an approved examination provider. (2) The commissioner shall make rules made in accordance with […]
Section 303 – Continuing education.
70D-3-303. Continuing education. (1) A licensee shall annually complete at least the number of hours of continuing education required by rule made by the commissioner. (2) (a) The commissioner shall make the rules described in Subsection (1): (i) in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act; and (ii) subject to the requirements […]
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 103 – General powers and duties of commissioner.
70D-3-103. General powers and duties of commissioner. Subject to this chapter: (1) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the commissioner may make rules authorized by this chapter, including: (a) providing for an interim procedure for: (i) licensing; and (ii) acceptance of an application; and (b) coordination between filings required under […]