Michigan Laws 445.1034 – Exceptions
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Terms Used In Michigan Laws 445.1034
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
This act does not apply to any of the following:
(a) A title insurance company authorized to do business in this state or its authorized agent.
(b) A licensed mortgage loan originator, mortgage broker, lender, or servicer, or a depository financial institution authorized under state and federal law to originate or service mortgage loans.
(c) A real estate broker or salesperson licensed under article 25 of the occupational code, 1980 PA 299, MCL 339.2501 to 339.2518.