2011 Maine Revised Statutes
TITLE 9-A: MAINE CONSUMER CREDIT CODE
Article 2: FINANCE CHARGES AND RELATED PROVISIONS
9-A §2-310. Servicing requirements of assigned supervised loans
Part 3: CONSUMER LOANS: SUPERVISED LENDERS
§2-310. Servicing requirements of assigned supervised loans
No supervised loan secured by a mortgage on real estate may be assigned under this Article unless:
1. The supervised lender making the loan retains servicing of the loan and either maintains a place of business in this State or maintains a toll-free telephone number or other free means of oral communication that is disclosed to mortgagors and staffed in the manner described in subsection 2; or
[ 1987, c. 129, §37 (AMD) .]
2. The assignee or servicing agent retained to collect the loan maintains a toll-free telephone number, or other free means of oral communication, that is disclosed to mortgagors in each coupon book or on each periodic billing notice or statement of account and that is staffed during normal business hours for mortgagors to use to communicate with the assignee or servicing agent concerning the supervised loan.
[ 1987, c. 129, §37 (AMD) .]
SECTION HISTORY
1983, c. 720, §10 (NEW). 1987, c. 129, §37 (AMD).
Disclaimer: These codes may not be the most recent version. Maine may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
