2012 Connecticut General Statutes
Title 36a - The Banking Law of Connecticut
Chapter 669 - Regulated Activities
Section 36a-715 - (Formerly Sec. 36-442m). Definitions.

As used in sections 36a-715 to 36a-718, inclusive, unless the context otherwise requires:

(1) “First mortgage loan” has the same meaning as provided in section 36a-485.

(2) “Mortgage servicing company” means any person, wherever located, who, for such person or on behalf of the holder of a first mortgage loan, receives payments of principal and interest in connection with a first mortgage loan, records such payments on such person’s books and records and performs such other administrative functions as may be necessary to properly carry out the mortgage holder’s obligations under the mortgage agreement including, when applicable, the receipt of funds from the mortgagor to be held in escrow for payment of real estate taxes and insurance premiums and the distribution of such funds to the taxing authority and insurance company.

(3) “Mortgagor” means any person obligated to repay a first mortgage loan.

(P.A. 89-347, S. 3; P.A. 92-12, S. 90; P.A. 94-122, S. 312, 340; P.A. 04-257, S. 107; P.A. 08-176, S. 60.)

History: P.A. 92-12 made technical changes; P.A. 94-122 made technical changes, effective January 1, 1995; Sec. 36-442m transferred to Sec. 36a-715 in 1995; P.A. 04-257 made a technical change in Subdiv. (1), effective June 14, 2004; P.A. 08-176 made a technical change in Subdiv. (1), effective July 1, 2008.