Vermont Statutes Title 8 Sec. 2204d
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Terms Used In Vermont Statutes Title 8 Sec. 2204d
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgage broker: means any person who for compensation or gain, or in the expectation of compensation or gain, directly or indirectly negotiates, places, assists in placement, or finds, or offers to negotiate, place, assist in placement, or find mortgage loans, other than commercial loans, on real property for others. See
- Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
§ 2204d. Mortgage loan originator license inactive status
The license of a mortgage loan originator that has satisfied all of the requirements of licensure, other than being employed by a licensed lender or licensed mortgage broker, may be placed in an approved inactive status. (Amended 1995, No. 162 (Adj. Sess.), § 7, eff. Jan. 1, 1997; 2009, No. 29, § 1; 2013, No. 29, § 5, eff. May 13, 2013; 2019, No. 20, § 13.)