Utah Code 70D-2-301. Record retention
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Terms Used In Utah Code 70D-2-301
- broker: means a person who in the regular course of business assists a person in obtaining a mortgage loan for a fee or other consideration paid directly or indirectly. See Utah Code 70D-2-102
- Commissioner: means the commissioner of the department. See Utah Code 70D-1-102
- Lender: includes a mortgage lender. See Utah Code 70D-2-102
- Servicer: means a person who in the regular course of business assumes responsibility for servicing and accepting payments for a mortgage loan. See Utah Code 70D-2-102
A lender, broker, or servicer shall keep and maintain at all times in its principal place of business the records of a mortgage loan transaction of the lender, broker, or servicer as required by the rules of the commissioner.