DAR File No. 39249
This notice was published in the April 15, 2015, issue (Vol. 2015, No. 8) of the Utah State Bulletin.
Commerce, Real Estate
Utah Residential Mortgage Practices and Licensing Rules
Five-Year Notice of Review and Statement of Continuation
DAR File No.: 39249
Filed: 03/31/2015 04:07:19 PM
NOTICE OF REVIEW AND STATEMENT OF CONTINUATION
Concise explanation of the particular statutory provisions under which the rule is enacted and how these provisions authorize or require the rule:
Congress passed the SAFE Mortgage License Act (the SAFE Act), which became effective on 07/30/2008. It included significant required changes to state-issued mortgage licenses. In response to the SAFE Act, Utah enacted the Utah Residential Mortgage Practices and Licensing Act (the Utah Mortgage Act), found in Title 61, Chapter 2c. Section 61-2c-103 requires the Utah Division of Real Estate to make rules for the administration of the Utah Mortgage Act.
Summary of written comments received during and since the last five-year review of the rule from interested persons supporting or opposing the rule:
No written comments have been received from interested persons either supporting or opposing the rule.
Reasoned justification for continuation of the rule, including reasons why the agency disagrees with comments in opposition to the rule, if any:
Title 61, Chapter 2c, the Utah Residential Mortgage Practices and Licensing Act (the Utah Mortgage Act) remains in effect at the time of this five-year notice of review and continuation. Section 61-2c-103 continues to require that the Utah Division of Real Estate make rules for the administration of the Utah Mortgage Act. The rule is still necessary to administer residential mortgage practices and licensing in the State of Utah. Therefore, this rule should be continued.
The full text of this rule may be inspected, during regular business hours, at the Division of Administrative Rules, or at:Commerce
HEBER M WELLS BLDG
160 E 300 S
SALT LAKE CITY, UT 84111-2316
Direct questions regarding this rule to:
- Justin Barney at the above address, by phone at 801-530-6603, by FAX at , or by Internet E-mail at firstname.lastname@example.org
Jonathan Stewart, Director
More information about a Five-Year Notice of Review and Statement of Continuation is available online.
The Portable Document Format (PDF) version of the Bulletin is the official version. The PDF version of this issue is available at https://rules.utah.gov/publicat/bull-pdf/2015/b20150415.pdf. The HTML edition of the Bulletin is a convenience copy. Any discrepancy between the PDF version and HTML version is resolved in favor of the PDF version.
For questions regarding the content or application of this rule, please contact Justin Barney at the above address, by phone at 801-530-6603, by FAX at , or by Internet E-mail at email@example.com. For questions about the rulemaking process, please contact the Division of Administrative Rules.