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Utah Administrative Code (Current through November 1, 2019) |
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R343. Financial Institutions, Nondepository Lenders |
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R343-8. Mortgage Loan Originator Record Requirements and Reports of Condition |
| R343-8-1. Authority, Scope and Purpose |
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Latest version.
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(1) This rule is issued pursuant to Section 70D-3-401. (2) This rule applies to mortgage loan originators who are required to license with the commissioner. (3) The purpose of this rule is to require that appropriate business records are created, maintained, submitted and produced for inspection. |
| R343-8-2. Record Requirements |
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Latest version.
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(1) An individual required to be licensed shall create records related to the underwriting, valuation of collateral, or extension of credit for a mortgage loan. Records must be maintained for the period specified in the statute and provided to the commissioner upon the commissioner's request. |
| R343-8-3. Reports of Condition |
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Latest version.
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(1) A report of condition required by the nationwide database shall be provided to the commissioner upon the commissioner's request. |