If the commissioner determines that a person is brokering, making, servicing, or collecting mortgage loans in violation of this act, the commissioner shall do 1 or more of the following:
  (a) Initiate a cause of action under section 10.

Terms Used In Michigan Laws 445.1639

  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Person: means an individual, corporation, limited liability company, partnership, association, governmental entity, or any other legal entity. See Michigan Laws 445.1632
  • 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
  (b) If the person is chartered, licensed, registered, regulated, or administered by the commissioner under a law of this state, the commissioner shall enforce the penalties and remedies under that law.
  (c) Forward a complaint to the appropriate regulatory or investigatory authority.
  Previous section
Next section  
 Act 660 of 2002 Contents