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Utah Code Title 70D. Financial Institution Mortgage Financing Regulation Act § 70D-2-302. Notice required with loan application

Current as of May 05, 2022 | Updated by FindLaw Staff

(1) If the following is the case, a lender and broker shall notify in writing a person from whom the lender or broker receives or for whom the lender or broker prepares a written application for a mortgage loan that:

(a) the mortgage loan applied for may be sold or assigned;

(b) the servicing of the loan may be sold or assigned; and

(c) the mortgage loan will not necessarily be held or serviced by the lender that originates the mortgage loan.

(2) A lender and broker shall provide a written notice required by this section at the time of receipt or preparation of the written application for a mortgage loan.

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Cite this article: FindLaw.com - Utah Code Title 70D. Financial Institution Mortgage Financing Regulation Act § 70D-2-302. Notice required with loan application - last updated May 05, 2022 | https://codes.findlaw.com/ut/title-70d-financial-institution-mortgage-financing-regulation-act/ut-code-sect-70d-2-302/

Read this complete Utah Code Title 70D. Financial Institution Mortgage Financing Regulation Act § 70D-2-302. Notice required with loan application on Westlaw. Westlaw subscription required.

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