Utah Administrative Code

The Utah Administrative Code is the body of all effective administrative rules as compiled and organized by the Division of Administrative Rules (see Subsection 63G-3-102(5); see also Sections 63G-3-701 and 702).

NOTE: For a list of rules that have been made effective since April 1, 2019, please see the codification segue page.

NOTE TO RULEFILING AGENCIES: Use the RTF version for submitting rule changes.


R343. Financial Institutions, Nondepository Lenders.

Rule R343-8. Mortgage Loan Originator Record Requirements and Reports of Condition.

As in effect on April 1, 2019

Table of Contents

R343-8-1. Authority, Scope and Purpose.

(1) This rule is issued pursuant to Section 70D-3-401.

(2) This rule applies to mortgage loan originators who are required to license with the commissioner.

(3) The purpose of this rule is to require that appropriate business records are created, maintained, submitted and produced for inspection.

R343-8-2. Record Requirements.

(1) An individual required to be licensed shall create records related to the underwriting, valuation of collateral, or extension of credit for a mortgage loan. Records must be maintained for the period specified in the statute and provided to the commissioner upon the commissioner's request.

R343-8-3. Reports of Condition.

(1) A report of condition required by the nationwide database shall be provided to the commissioner upon the commissioner's request.

KEY

mortgage

Date of Enactment or Last Substantive Amendment

December 22, 2009

Notice of Continuation

December 4, 2014

Authorizing, Implemented, or Interpreted Law

70D-3-102


Additional Information

Contact

For questions regarding the content or application of rules under Title R343, please contact the promulgating agency (Financial Institutions, Nondepository Lenders). A list of agencies with links to their homepages is available at http://www.utah.gov/government/agencylist.html or from http://www.rules.utah.gov/contact/agencycontacts.htm.