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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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R343-11. Rule Designating Applicable Federal Law for a Mortgage Lender, Broker, or Servicer Subject to the Jurisdiction of the Department of Financial Institutions |
R343-11. Rule Designating Applicable Federal Law for a Mortgage Lender, Broker, or Servicer Subject to the Jurisdiction of the Department of Financial Institutions
| R343-11-1. Authority, Scope and Purpose |
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(1) This rule is issued pursuant to Section 70D-2-502(2)(b). (2) Violations of federal law designated by this rule may only be enforced by the department by taking action permitted under Title 70D and the applicable chapters set forth in Section 70D-2-502(2). (3) This rule designates which one or more federal laws the department may enforce and are applicable to mortgage lenders, brokers, or servers subject to the jurisdiction of the department. |
| R343-11-2. Definitions |
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(1) "Department" means the Department of Financial Institutions. (2) "Federal Law" means: (a) a statute passed by the Congress of the United States; or (b) a final regulation: (i) adopted by an administrative agency of the United States government; and (ii) published in the code of federal regulations or the federal register. |
| R343-11-3. Applicable Federal Law |
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In accordance with Section 70D-2-502(2)(b), the following federal laws are applicable to mortgage lenders, brokers, or servers subject to the jurisdiction of the department: (1) Truth in Lending Act, 15 U.S.C. Sec. 1601 et seq., and its implementing federal regulations; (2) Equal Credit Opportunity Act, 15 U.S.C. Sec. 1691, and its implementing federal regulations; (3) Real Estate Settlement Procedures Act, 12 U.S.C. Sec. 2601 et seq., and its implementing federal regulations; (4) Fair Credit Reporting Act, 15 U.S.C. Sec. 1681 et seq., and its implementing federal regulations; (5) Home Mortgage Disclosure Act, 12 U.S.C. Sec. 2801 et seq., and its implementing federal regulations. |