Utah Code § 70D-2-302
Notice required with loan application
Utah · Utah Code Title 70D — Financial Institution Mortgage Financing Regulation Act · Status: effective
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- Citation
- Utah Code § 70D-2-302, Notice required with loan application, Utah, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2350431
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Full text
(1) If the following is the case, a lender and broker shall notify in writing a person from whom the lender or broker receives or for whom the lender or broker prepares a written application for a mortgage loan that:
(a) the mortgage loan applied for may be sold or assigned;
(b) the servicing of the loan may be sold or assigned; and
(c) the mortgage loan will not necessarily be held or serviced by the lender that originates the mortgage loan.
(2) A lender and broker shall provide a written notice required by this section at the time of receipt or preparation of the written application for a mortgage loan.