Utah § 70D-2-302 Notice required with loan application.

Utah Statutes

§ 70D-2-302 — Notice required with loan application.

Utah § 70D-2-302

Title 70DFinancial Institution Mortgage Financing Regulation Act

Ch. 70D-2Mortgage Lending and Servicing Act

Part 70D-2-3Operational Requirements

This text of Utah § 70D-2-302 (Notice required with loan application.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 70D-2-302 (2026).

Text

(1)If the following is the case, a lender and broker shall notify in writing a person from whom the lender or broker receives or for whom the lender or broker prepares a written application for a mortgage loan that:

(1)(a) the mortgage loan applied for may be sold or assigned;

(1)(b) the servicing of the loan may be sold or assigned; and

(1)(c) the mortgage loan will not necessarily be held or serviced by the lender that originates the mortgage loan.

(2)A lender and broker shall provide a written notice required by this section at the time of receipt or preparation of the written application for a mortgage loan.

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(1) If the following is the case, a lender and broker shall notify in writing a person from whom the lender or broker receives or for whom the lender or broker prepares a written application for a mortgage loan that:

(1)(a) the mortgage loan applied for may be sold or assigned;
(1)(b) the servicing of the loan may be sold or assigned; and
(1)(c) the mortgage loan will not necessarily be held or serviced by the lender that originates the mortgage loan.
(2) A lender and broker shall provide a written notice required by this section at the time of receipt or preparation of the written application for a mortgage loan.