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Terms Used In Maine Revised Statutes Title 9-A Sec. 10-307

  • Loan broker: means any person who, with respect to the extension of consumer credit by others, provides or offers to provide, in return for the separate payment of money or other valuable consideration, any of the following services:
    (1) Improving a consumer's credit record, history or rating;
    (2) Arranging for or obtaining an extension of credit for a consumer; or
    (3) Providing advice or assistance to a consumer with respect to subparagraph (1) or (2). See Maine Revised Statutes Title 9-A Sec. 10-102
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Real estate: includes lands and all tenements and hereditaments connected therewith, and all rights thereto and interests therein. See Maine Revised Statutes Title 1 Sec. 72
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • United States: includes territories and the District of Columbia. See Maine Revised Statutes Title 1 Sec. 72
A loan broker and its mortgage loan originators shall comply with the provisions of 12 United States Code § 2601 et seq., the federal Real Estate Settlement Procedures Act of 1974 and its implementing regulation, Regulation X, 12 C.F.R. § 1024.1 et seq. [PL 2013, c. 464, §12 (AMD).]
SECTION HISTORY

PL 2007, c. 273, Pt. A, §31 (NEW). PL 2007, c. 273, Pt. A, §41 (AFF). PL 2007, c. 466, Pt. B, §9 (AMD). PL 2007, c. 466, Pt. B, §10 (AFF). PL 2011, c. 427, Pt. B, §16 (AMD). PL 2013, c. 464, §12 (AMD).