Terms Used In Utah Code > Title 61 > Chapter 2c > Part 5 - Residential Mortgage Loan Education, Research, and Recovery Fund

• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• 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.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Branch office: means a licensed entity's office:

  (i)	for the transaction of the business of residential mortgage loans regulated under this chapter;

  (ii)	other than the main office of the licensed entity; and

  (iii)

  that operates under: (A)  the same business name as the licensed entity; or (B)  another trade name that is registered with the division under the entity license. 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 Civil judgment: means a judgment in a civil action that:Utah Code 61-2c-501.5 Commission: means the Residential Mortgage Regulatory Commission created in Section 61-2c-104. 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 Criminal restitution judgment: means a judgment that, in accordance with the Utah Code of Criminal Procedure, orders criminal restitution to a person and against a person licensed under this chapter for a criminal offense involving fraud, misrepresentation, or deceit in a residential mortgage loan transaction. See Utah Code 61-2c-501.5 Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries. Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime. 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 Final judgment: means one of the following judgments upon termination of the proceedings related to the judgment, including appeals:Utah Code 61-2c-501.5 Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006. Fraud: Intentional deception resulting in injury to another. Fund: means the Residential Mortgage Loan Education, Research, and Recovery Fund created in Section 61-2c-501. See Utah Code 61-2c-501.5 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. Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC Person: means an individual or entity. See Utah Code 61-2c-102 Property: includes both real and personal property. See Utah Code 68-3-12.5 Residential mortgage loan: means an extension of credit, if: (i)  the loan or extension of credit is secured by a: (A)  mortgage; (B)  deed of trust; or (C)  consensual security interest; and (ii)  the mortgage, deed of trust, or consensual security interest described in Subsection (1)(oo)(i): (A)  is on a dwelling located in the state; and (B)  is created with the consent of the owner of the residential real property. 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. 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 Utah Code: means the 1953 recodification of the Utah Code, as amended, unless the text expressly references a portion of the 1953 recodification of the Utah Code as it existed:Utah Code 68-3-12.5 Writ: A formal written command, issued from the court, requiring the performance of a specific act. Writ: means an order or precept in writing, issued in the name of:Utah Code 68-3-12.5