Terms Used In Utah Code 61-2c-302

• Division: means the Division of Real Estate. See Utah Code 61-2c-102
• Entity: means :
            (1)(x)(i) a corporation;
            (1)(x)(ii) a limited liability company;
            (1)(x)(iii) a partnership;
            (1)(x)(iv) a company;
            (1)(x)(v) an association;
            (1)(x)(vi) a joint venture;
            (1)(x)(vii) a business trust;
            (1)(x)(viii) a trust; or
            (1)(x)(ix) another organization. See Utah Code 61-2c-102
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Licensee: means a person licensed with the division under this chapter. See Utah Code 61-2c-102
• 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 originator: means an individual who, for compensation or in expectation of compensation:
                 (1)(gg)(i)(A)

                      (1)(gg)(i)(A)(I) takes a residential mortgage loan application;

                      (1)(gg)(i)(A)(II) offers or negotiates terms of a residential mortgage loan for the purpose of:

                           (1)(gg)(i)(A)(II)(Aa) a purchase;

                           (1)(gg)(i)(A)(II)(Bb) a refinance;

                           (1)(gg)(i)(A)(II)(Cc) a loan modification assistance; or

                           (1)(gg)(i)(A)(II)(Dd) a foreclosure rescue; or

                      (1)(gg)(i)(A)(III) directly or indirectly solicits a residential mortgage loan for another person; and
                 (1)(gg)(i)(B) is licensed as a mortgage loan originator in accordance with this chapter. See Utah Code 61-2c-102
• Nationwide database: means the Nationwide Mortgage Licensing System and Registry, authorized under federal licensing requirements. See Utah Code 61-2c-102
• Person: means an individual or entity. See Utah Code 61-2c-102
• Record: means information that is:
            (1)(nn)(i) prepared, owned, received, or retained by a person; and
            (1)(nn)(ii)

                 (1)(nn)(ii)(A) inscribed on a tangible medium; or

                 (1)(nn)(ii)(B)

                      (1)(nn)(ii)(B)(I) stored in an electronic or other medium; and

                      (1)(nn)(ii)(B)(II) in a perceivable and reproducible form. See Utah Code 61-2c-102
• Residential mortgage loan: means an extension of credit, if:
            (1)(oo)(i) the loan or extension of credit is secured by a:

                 (1)(oo)(i)(A) mortgage;

                 (1)(oo)(i)(B) deed of trust; or

                 (1)(oo)(i)(C) consensual security interest; and
            (1)(oo)(ii) the mortgage, deed of trust, or consensual security interest described in Subsection (1)(oo)(i):

                 (1)(oo)(ii)(A) is on a dwelling located in the state; and

                 (1)(oo)(ii)(B) is created with the consent of the owner of the residential real property. See Utah Code 61-2c-102