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

  • 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.
A loan broker and its mortgage loan originators shall comply with the provisions of the Federal Truth in Lending provisions of Article 8?A and any rules adopted in accordance with that Article. [PL 2011, c. 427, Pt. A, §16 (NEW).]
SECTION HISTORY

PL 2011, c. 427, Pt. A, §16 (NEW).