Utah § 70D-3-401 Record requirements -- Reports of condition.

Utah Statutes

§ 70D-3-401 — Record requirements -- Reports of condition.

Utah § 70D-3-401

Title 70DFinancial Institution Mortgage Financing Regulation Act

Ch. 70D-3Financial Institution Loan Originator Licensing Act

Part 70D-3-4Operational Requirements and Prohibitions

This text of Utah § 70D-3-401 (Record requirements -- Reports of condition.) 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-3-401 (2026).

Text

(1)An individual required to be licensed under this chapter shall create a record required by rule made by the commissioner in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act.

(2)An individual required to be licensed under this chapter shall maintain and produce for inspection a record required to be maintained by a rule made by the commissioner in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, for four years from the last to occur of the following:

(2)(a) the final entry on a residential mortgage loan is made by that licensee;

(2)(b) if the residential mortgage loan is serviced by the licensee:

(2)(b)(i) the residential mortgage loan is paid in full; or

(2)(b)(ii) the licensee ceases to service the residential mortgage loan; or

(2)(c)

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(1) An individual required to be licensed under this chapter shall create a record required by rule made by the commissioner in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act.
(2) An individual required to be licensed under this chapter shall maintain and produce for inspection a record required to be maintained by a rule made by the commissioner in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, for four years from the last to occur of the following:

(2)(a) the final entry on a residential mortgage loan is made by that licensee;
(2)(b) if the residential mortgage loan is serviced by the licensee:
(2)(b)(i) the residential mortgage loan is paid in full; or
(2)(b)(ii) the licensee ceases to service the residential mortgage loan; or
(2)(c) if the residential mortgage loan is not serviced by the licensee, the residential mortgage loan is closed.
(3) An individual required to be licensed under this chapter shall maintain and produce for inspection by the commissioner a report of condition submitted to the nationwide database as required by 12 U.S.C. Sec. 5104(e) for at least four years from the day on which the individual submits the report of condition to the nationwide database.