Terms Used In Utah Code > Title 70D > Chapter 2 > Part 1 - General Provisions

• 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
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Dependent: A person dependent for support upon another.
• Dwelling: means a residential structure attached to real property that contains one to four units including any of the following if used as a residence:

  (a)	a condominium unit;

  (b)	a cooperative unit;

  (c)	a manufactured home; or

  (d)

  a house. See Utah Code 70D-1-102 Lender: includes a mortgage lender. See Utah Code 70D-2-102 Mobile home: means a transportable factory built housing unit built before June 15, 1976, in accordance with a state mobile home code that existed before the National Manufactured Housing Construction and Safety Standards Act of 1974. See Utah Code 70D-2-102 Mortgage: The written agreement pledging property to a creditor as collateral for a loan. Mortgage: means a mortgage or deed of trust affecting real property located in this state. See Utah Code 70D-1-102 Mortgage lender: means an entity that performs each of the following related to originating a mortgage loan: (a)  taking and processing an application; (b)  providing a required disclosure; (c)  in some circumstances, underwriting the mortgage loan and making the final credit approval decision; (d)  closing the mortgage loan in its name; (e)  funding the mortgage loan; and (f)  selling the mortgage loan to an investor. See Utah Code 70D-2-102 Mortgage loan: means a loan: (i)  secured by a mortgage; and (ii)  made for personal, family, or household purposes. See Utah Code 70D-1-102 Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period. Person: means :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 State: means : (a)  a state, territory, or possession of the United States; (b)  the District of Columbia; or (c)  the Commonwealth of Puerto Rico. See Utah Code 70D-1-102