North Dakota Century Code Title 13. Debtor and Creditor Relationship § 13-12-14. Prohibited acts and practices

1. Make or cause to be made any material false statement or representation in any application or other document or statement required to be filed under any provision of this chapter, or to omit to state any material statement or fact necessary in order to make the statements made, in light of the circumstances under which they are made, not misleading.

2. Directly or indirectly, employ any device, scheme, or artifice to defraud or mislead borrowers or lenders to defraud any person.

3. Directly or indirectly, make any untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they are made, not misleading in connection with the procurement or promise of procurement of any lender or loan funds.

4. Engage in any unfair or deceptive practice toward any person.

5. Obtain property by fraud or misrepresentation.

6. Solicit, advertise, or enter into a contract for specific interest rates, points, or other financing terms unless the terms are actually available at the time of soliciting, advertising, or contracting.

7. Conduct any business covered by this chapter without holding a valid license as required under this chapter, or assist or aid and abet any person in the conduct of business under this chapter without a valid license as required under this chapter.

8. Fail to make disclosures as required by this chapter and any other applicable state or federal law and regulations.

9. Fail to comply with this chapter or rules adopted under this chapter, or fail to comply with any other state or federal law or rule, applicable to any business authorized or conducted under this chapter.

10. Make, in any manner, any false or deceptive statement or representation, including, with regard to the rates, points, or other financing terms or conditions for a residential mortgage loan or engage in bait and switch advertising.

11. Negligently make any false statement or make any omission of material fact in connection with any information or reports filed with a governmental agency or the nationwide multistate licensing system and registry or in connection with any investigation conducted by the commissioner or another governmental agency.

12. Make any payment, threat, or promise, directly or indirectly, to any person for the purposes of influencing the independent judgment of the person in connection with a loan or make any payment, threat, or promise, directly or indirectly, to any appraiser of a property, for the purposes of influencing the independent judgment of the appraiser with respect to the value of the property.

13. Collect, charge, attempt to collect or charge, or use or propose any agreement purporting to collect or charge any fee prohibited by this chapter.

14. Cause or require a borrower to obtain property insurance coverage in an amount that exceeds the replacement cost of the improvements as established by the property insurer.

15. Fail to truthfully account for moneys belonging to a party to a loan transaction.

16. Conduct another business within the same office, suite, room, or place of business at which the licensee engages in mortgage lending business unless the commissioner provides written authorization after a determination the other business is not contrary to the best interests of any borrower or potential borrower.

17. Enter any agreement that constitutes a precomputed loan.