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Financial Institution Mortgage Financing Regulation Act | |
Mortgage Lending and Servicing Act | |
Section 305 | Fee restrictions. |
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70D-2-305. Fee restrictions. 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: (1) signed by the applicant; (2) stating whether or not the fee or deposit is refundable; and (3) describing the conditions, if any, under which all or a portion of the fee or deposit will be refunded to the applicant.
Renumbered and Amended by Chapter 72, 2009 General Session |
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