Licensee: means a person licensed with the division under this chapter. See Utah Code 61-2c-102
Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Nationwide database: means the Nationwide Mortgage Licensing System and Registry, authorized under federal licensing requirements. See Utah Code 61-2c-102
a person required by this chapter to obtain a license with the division; and
(ii)
the establishment of a branch office by an entity;
(b)
proper handling of money received by a licensee;
(c)
record-keeping requirements by a licensee, including proper disposal of a record;
(d)
certification procedures for certifying an education provider; and
(e)
standards of conduct for a licensee or certified education provider.
(4)
The division may by rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, require as a condition of maintaining a license or certification under this chapter that a person comply with a requirement of the nationwide database if:
The division may enter into a relationship or contract with the nationwide database or another entity designated by the nationwide database to do the following related to a licensee or other person subject to this chapter:
(a)
collect or maintain a record; and
(b)
process a transaction fee or other fee.
(7)
The division shall regularly report the following to the nationwide database:
(a)
a violation of this chapter;
(b)
licensing or disciplinary action under this chapter; and
(c)
other information relevant to this chapter.
(8)
If a person pays a fee or costs to the division with a negotiable instrument or any other method that is not honored for payment:
(a)
the transaction for which the payment is submitted is voidable by the division;
(b)
the division may reverse the transaction if payment of the applicable fee or costs is not received in full; and
(c)
the person’s license, certification, or registration is automatically suspended:
(i)
beginning the day on which the payment is due; and