A mortgage loan processor who is not registered or otherwise authorized to act as a mortgage loan originator shall not represent to the public or to individual consumers that he or she can, or is willing to, perform any of the activities of a mortgage loan originator.
Effective: July 15, 2016
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Terms Used In Kentucky Statutes 286.8-256

  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
  • Mortgage loan: means any loan primarily for personal, family, or household use that is secured by a mortgage, deed of trust, or other equivalent consensual security interest on residential real property or any loan primarily for personal, family, or household use that is secured by collateral that has a mortgage lien interest in residential real property. See Kentucky Statutes 286.8-010

History: Created 2016 Ky. Acts ch. 129, sec. 5, effective July 15, 2016.

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