Maine § 33 §507 Disclosure regarding private mortgage insurance (REALLOCATED FROM TITLE 33, SECTION 506)

Maine Statutes

§ 33 §507 — Disclosure regarding private mortgage insurance (REALLOCATED FROM TITLE 33, SECTION 506)

Maine § 33 §507

Title 33PROPERTY

Ch. 9MORTGAGES OF REAL PROPERTY

This text of Maine § 33 §507 (Disclosure regarding private mortgage insurance (REALLOCATED FROM TITLE 33, SECTION 506)) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 33, § 33 §507 (2026).

Text

With respect to a mortgage loan on residential real property for which the processor or underwriter of that loan also engages in the business of private mortgage insurance, a supervised lender, as defined in Title 9‑A, section 1‑301, subsection 39, or a loan broker, as defined in Title 9‑A, section 10‑102, shall disclose to the loan applicant at the time of application the fact that the processor or underwriter is also in the business of private mortgage insurance. Failure to provide the disclosure required by this section does not annul, alter or affect the validity or enforceability of the mortgage loan.

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With respect to a mortgage loan on residential real property for which the processor or underwriter of that loan also engages in the business of private mortgage insurance, a supervised lender, as defined in Title 9‑A, section 1‑301, subsection 39, or a loan broker, as defined in Title 9‑A, section 10‑102, shall disclose to the loan applicant at the time of application the fact that the processor or underwriter is also in the business of private mortgage insurance. Failure to provide the disclosure required by this section does not annul, alter or affect the validity or enforceability of the mortgage loan.