Terms Used In Utah Code > Title 70D > Chapter 2 > Part 2 - Notification to Commissioner

• broker: means a person who in the regular course of business assists a person in obtaining a mortgage loan for a fee or other consideration paid directly or indirectly. See Utah Code 70D-2-102
• Commissioner: means the commissioner of the department. See Utah Code 70D-1-102
• Department: means the Department of Financial Institutions. See Utah Code 70D-1-102
• Depository institution: is a s defined in Section 7-1-103. See Utah Code 70D-1-102
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Lender: includes a mortgage lender. See Utah Code 70D-2-102
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage: means a mortgage or deed of trust affecting real property located in this state. See Utah Code 70D-1-102
• Mortgage lender: means an entity that performs each of the following related to originating a mortgage loan:
       (7)(a) taking and processing an application;
       (7)(b) providing a required disclosure;
       (7)(c) in some circumstances, underwriting the mortgage loan and making the final credit approval decision;
       (7)(d) closing the mortgage loan in its name;
       (7)(e) funding the mortgage loan; and
       (7)(f) selling the mortgage loan to an investor. See Utah Code 70D-2-102
• Nationwide database: means the Nationwide Mortgage Licensing System and Registry, authorized under Utah Code 70D-2-102
• Person: means :
       (24)(a) an individual;
       (24)(b) an association;
       (24)(c) an institution;
       (24)(d) a corporation;
       (24)(e) a company;
       (24)(f) a trust;
       (24)(g) a limited liability company;
       (24)(h) a partnership;
       (24)(i) a political subdivision;
       (24)(j) a government office, department, division, bureau, or other body of government; and
       (24)(k) any other organization or entity. See Utah Code 68-3-12.5
• Record: means information that is:
       (8)(a) inscribed on a tangible medium; or
       (8)(b) stored in an electronic or other medium and is retrievable in perceivable form. See Utah Code 70D-1-102
• Servicer: means a person who in the regular course of business assumes responsibility for servicing and accepting payments for a mortgage loan. See Utah Code 70D-2-102
• State: means :
       (10)(a) a state, territory, or possession of the United States;
       (10)(b) the District of Columbia; or
       (10)(c) the Commonwealth of Puerto Rico. See Utah Code 70D-1-102