Terms Used In Utah Code > Title 61 > Chapter 2c > Part 4 - Enforcement

• Adjudicative proceeding: means :Utah Code 68-3-12.5
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Applicant: means a person applying for a license under this chapter. See Utah Code 61-2c-102
• Business of residential mortgage loans: means for compensation or in the expectation of compensation to:

  (A)	engage in an act that makes an individual a mortgage loan originator;

  (B)	make or originate a residential mortgage loan;

  (C)	directly or indirectly solicit a residential mortgage loan for another;

  (D)

  unless exempt under Section 61-2c-105 or excluded under Subsection (1)(i)(ii), render services related to the origination of a residential mortgage loan including: (I)  preparing a loan package; (II)  communicating with the borrower or lender; (III)  advising on a loan term; (IV)  receiving, collecting, or distributing information common for the processing or underwriting of a loan in the mortgage industry; or (V)  communicating with a consumer to obtain information necessary for the processing or underwriting of a residential mortgage loan; or

  (E)

  engage in loan modification assistance. See Utah Code 61-2c-102 Certified education provider: means a person who is certified under Section 61-2c-204. See Utah Code 61-2c-102 Commission: means the Residential Mortgage Regulatory Commission created in Section 61-2c-104. See Utah Code 61-2c-102 Compensation: means anything of economic value that is paid, loaned, granted, given, donated, or transferred to an individual or entity for or in consideration of: (i)  services; (ii)  personal or real property; or (iii)  another thing of value. See Utah Code 61-2c-102 Concurrence: means that entities given a concurring role must jointly agree for the action to be taken. See Utah Code 61-2c-102 Continuing education: means education an individual takes in order to meet the education requirements imposed by Sections 61-2c-204. See Utah Code 61-2c-102 Conviction: A judgement of guilt against a criminal defendant. Director: means the director of the division. See Utah Code 61-2c-102 Division: means the Division of Real Estate. See Utah Code 61-2c-102 Entity: means : (i)  a corporation; (ii)  a limited liability company; (iii)  a partnership; (iv)  a company; (v)  an association; (vi)  a joint venture; (vii)  a business trust; (viii)  a trust; or (ix)  another organization. See Utah Code 61-2c-102 Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other. Executive director: means the executive director of the Department of Commerce. See Utah Code 61-2c-102 Fraud: Intentional deception resulting in injury to another. 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. Lending manager: means an individual licensed as a lending manager under Section 61-2c-206 to transact the business of residential mortgage loans. See Utah Code 61-2c-102 Licensee: means a person licensed with the division under this chapter. See Utah Code 61-2c-102 Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants. Mortgage: The written agreement pledging property to a creditor as collateral for a loan. Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC Mortgage loan originator: means an individual who, for compensation or in expectation of compensation: (A)  (I)  takes a residential mortgage loan application; (II)  offers or negotiates terms of a residential mortgage loan for the purpose of: (Aa)  a purchase; (Bb)  a refinance; (Cc)  a loan modification assistance; or (Dd)  a foreclosure rescue; or (III)  directly or indirectly solicits a residential mortgage loan for another person; and (B)  is licensed as a mortgage loan originator in accordance with this chapter. See Utah Code 61-2c-102 Person: means an individual or entity. See Utah Code 61-2c-102 Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents. Principal lending manager: means an individual: (i)  licensed as a lending manager under Section 61-2c-206; and (ii)  identified in the nationwide database by the individual's sponsoring entity as the entity's principal lending manager. See Utah Code 61-2c-102 Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed. Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5 Record: means information that is: (i)  prepared, owned, received, or retained by a person; and (ii)  (A)  inscribed on a tangible medium; or (B)  (I)  stored in an electronic or other medium; and (II)  in a perceivable and reproducible form. See Utah Code 61-2c-102 Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action. Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims. Settlement: means the time at which each of the following is complete: (i)  the borrower and, if applicable, the seller sign and deliver to each other or to the escrow or closing office each document required by: (A)  the real estate purchase contract; (B)  the lender; (C)  the title insurance company; (D)  the escrow or closing office; (E)  the written escrow instructions; or (F)  applicable law; (ii)  the borrower delivers to the seller, if applicable, or to the escrow or closing office any money, except for the proceeds of any new loan, that the borrower is required to pay; and (iii)  if applicable, the seller delivers to the buyer or to the escrow or closing office any money that the seller is required to pay. See Utah Code 61-2c-102 State: means : (i)  a state, territory, or possession of the United States; (ii)  the District of Columbia; or (iii)  the Commonwealth of Puerto Rico. See Utah Code 61-2c-102 Subpoena: A command to a witness to appear and give testimony. Testimony: Evidence presented orally by witnesses during trials or before grand juries.