Colorado § 5-3.5-101 Definitions

Colorado Statutes

§ 5-3.5-101 — Definitions

Colorado § 5-3.5-101

Title 05Consumer

Art.Consumer Equity Protection

This text of Colorado § 5-3.5-101 (Definitions) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 5-3.5-101 (2026).

Text

As used in this article, unless the context otherwise requires:

(1)Bridge loan means temporary or short-term financing with a maturity of less than eighteen months that requires payments of only interest until the entire unpaid balance is due and payable.

(2)Covered loan means a consumer credit transaction secured by property located within this state that is considered a mortgage under section 152 of the federal Home Ownership and Equity Protection Act of 1994, 15 U.S.C. sec. 1602 (aa), as amended, and regulations adopted pursuant thereto by the federal reserve board, including, without limitation, 12 CFR 226.32, as amended; except that, if the total points and fees paid by the obligor at or before closing exceed six percent of the total loan amount, such loan shall be deemed

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As used in this article, unless the context otherwise
requires:

(1) Bridge loan means temporary or short-term financing with a maturity of
less than eighteen months that requires payments of only interest until the entire
unpaid balance is due and payable.

(2) Covered loan means a consumer credit transaction secured by property
located within this state that is considered a mortgage under section 152 of the
federal Home Ownership and Equity Protection Act of 1994, 15 U.S.C. sec. 1602
(aa), as amended, and regulations adopted pursuant thereto by the federal reserve
board, including, without limitation, 12 CFR 226.32, as amended; except that, if the
total points and fees paid by the obligor at or before closing exceed six percent of
the total loan amount, such loan shall be deemed to be a covered loan if the
transaction otherwise meets the requirements of this subsection (2).

(3) Lender means any individual or entity that originates one or more
covered loans. The individual or entity to whom a covered loan is initially payable,
either on the face of the note or contract or by agreement when there is no note or
contract, shall be deemed to be the lender.

(4) Mortgage broker means a person other than an employee or exclusive
agent of a lender who, for compensation, brings an obligor and lender together to
obtain a covered loan.

(5) Obligor means each obligor, co-obligor, co-signer, or grantor obligated
to repay a covered loan.

(6) Political subdivision means a county, city and county, city, town, service
authority, school district, local improvement district, law enforcement authority,
city or county housing authority, or water, sanitation, fire protection, metropolitan,
irrigation, drainage, or other special district or any other kind of municipal, quasi-municipal, or public corporation organized pursuant to law.

(7) Principal balance means the amount financed plus prepaid finance
charges as defined in the federal Truth in Lending Act, 15 U.S.C. sec. 1601 et seq.,
as amended.

(8) Servicer has the same meaning as set forth in section 2605 (i)(2) of the
federal Real Estate Settlement Procedures Act of 1974, 12 U.S.C. sec. 2601 et
seq., as amended.