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Terms Used In Utah Code 70D-3-101

  • loan originator: means an individual who for compensation or in the expectation of compensation:
              (12)(a)(i) takes a residential mortgage loan application; or
              (12)(a)(ii) offers or negotiates a term of a residential mortgage loan. See Utah Code 70D-3-102

     This chapter is known as the “Financial Institution Loan Originator Licensing Act.”