A person may not advertise, print, display, publish, distribute, broadcast, or cause or permit to be advertised, printed, displayed, published, distributed, or broadcast, in any manner a statement or representation with regard to the rates, terms, or conditions for a mortgage loan that is false, misleading, or deceptive.
A person operating as a mortgage lender, mortgage broker, or mortgage loan originator shall clearly display the unique identifier assigned to the person by the registry on all residential mortgage loan application forms, solicitations, and advertisements, including business cards or websites, and any other documents as established by regulation or order of the department.
A person subject to this chapter shall conduct the person’s mortgage loan activities in compliance with (1) 12 U.S.C. 2601 – 2617 (Real Estate Settlement Procedures Act of 1974); (2) 12 U.S.C. 2801 – 2810 (Home Mortgage Disclosure Act of 1975); (3) 12 U.S.C. 2901 – 2908 (Community Reinvestment Act of 1977); (4) 12 U.S.C. […]
A person who is required to be licensed under this chapter and a person who is licensed under AS 06.20 may not, in connection with a mortgage loan transaction, (1) misrepresent or conceal a material fact or make a false promise likely to influence, persuade, or induce an applicant for a mortgage loan or a […]
(a) A covered person may not refinance a mortgage loan within 12 months after the date the mortgage loan is closed unless the refinancing is beneficial to the borrower. (b) The factors to be considered when determining if refinancing is beneficial to the borrower under this section may include whether (1) the borrower’s new monthly […]
(a) A covered person and a borrower may agree that the covered person will keep in an escrow account all money that the borrower is required to pay to defray future taxes or insurance premiums or for other lawful purposes. The escrow account must be segregated from the other accounts of the covered person and […]
(a) The department may report a violation of (b) – (e) of this section to the attorney general, who may institute the proper proceedings to enforce the criminal penalties provided in (b) – (e) of this section. (b) A person who knowingly provides false or misleading information to the department that is material under this […]
In AS 06.60.320 – 06.60.380, “covered person” means a mortgage licensee or a person who is licensed under AS 06.20.
