Utah Code 70D-2-504. Orders
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(1) If the commissioner determines that a person engaging in business as a lender, broker, or servicer is violating, has violated, or the commissioner has reasonable cause to believe is about to violate this chapter or a rule of the commissioner made under this chapter, the commissioner may:
Terms Used In Utah Code 70D-2-504
- Allegation: something that someone says happened.
- 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
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Lender: includes a mortgage lender. See Utah Code 70D-2-102
- Person: means :(24)(a) an individual;(24)(b) an association;(24)(c) an institution;(24)(d) a corporation;(24)(e) a company;(24)(f) a trust;(24)(g) a limited liability company;(24)(h) a partnership;(24)(i) a political subdivision;(24)(j) a government office, department, division, bureau, or other body of government; and(24)(k) any other organization or entity. See Utah Code 68-3-12.5
- 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
- Writing: includes :
(48)(a) printing;(48)(b) handwriting; and(48)(c) information stored in an electronic or other medium if the information is retrievable in a perceivable format. See Utah Code 68-3-12.5(1)(a) order the person to cease and desist from committing a further violation; and(1)(b) in the most serious instances may prohibit the person from continuing to engage in business as a lender, broker, or servicer.(2)(2)(a) If the commissioner determines that a practice that the commissioner alleges is unlawful should be enjoined during the pendency of a proceeding incident to an allegation, the commissioner may issue a temporary order in accordance with Section63G-4-502 :(2)(a)(i) at the commencement of the proceedings; or(2)(a)(ii) at any time after the proceeding commences.(2)(b) For purposes of Section63G-4-502 , an immediate and significant danger to the public health, safety, or welfare exists if the commissioner finds from specific facts supported by sworn statement or the records of a person subject to the order that loan applicants or mortgagors are otherwise likely to suffer immediate and irreparable injury, loss, or damage before a proceeding incident to a final order can be completed.(3) The commissioner may not award damages or penalties under this chapter against a lender, broker, or servicer.(4)(4)(a) An order issued by the commissioner under this chapter shall:(4)(a)(i) be in writing;(4)(a)(ii) be delivered to or served upon the person affected; and(4)(a)(iii) specify the order’s effective date, which may be immediate or at a later date.(4)(b) An order remains in effect until:(4)(b)(i) withdrawn by the commissioner; or(4)(b)(ii) terminated by a court order.(4)(c) Upon an application made on or after the order’s effective date to a court with jurisdiction under Title 78A, Judiciary and Judicial Administration, the court may enforce an order of the commissioner ex parte and without notice by an order to comply entered by the court.