Utah § 70D-2-305 Fee restrictions.

Utah Statutes

§ 70D-2-305 — Fee restrictions.

Utah § 70D-2-305

Title 70DFinancial Institution Mortgage Financing Regulation Act

Ch. 70D-2Mortgage Lending and Servicing Act

Part 70D-2-3Operational Requirements

This text of Utah § 70D-2-305 (Fee restrictions.) 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-2-305 (2026).

Text

(1)A lender or broker may not accept a fee or deposit from an applicant for a mortgage loan unless at the time the lender or broker accepts the fee or deposit there is a written statement:

(1)(a) signed by the applicant;

(1)(b) stating whether or not the fee or deposit is refundable; and

(1)(c) describing the conditions, if any, under which all or a portion of the fee or deposit will be refunded to the applicant.

(2)Notwithstanding Subsection (1), a lender or broker may accept a fee or deposit from an applicant for a mortgage loan if the lender or broker receives an email from the applicant acknowledging that the applicant was provided the information required by Subsections (1)(b) and (c).

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(1) A lender or broker may not accept a fee or deposit from an applicant for a mortgage loan unless at the time the lender or broker accepts the fee or deposit there is a written statement:

(1)(a) signed by the applicant;
(1)(b) stating whether or not the fee or deposit is refundable; and
(1)(c) describing the conditions, if any, under which all or a portion of the fee or deposit will be refunded to the applicant.
(2) Notwithstanding Subsection (1), a lender or broker may accept a fee or deposit from an applicant for a mortgage loan if the lender or broker receives an email from the applicant acknowledging that the applicant was provided the information required by Subsections (1)(b) and (c).