2012 Utah Code
Title 70D - Financial Institution Mortgage Financing Regulation Act
Article 2 - Mortgage Lending and Servicing Act
Section 302 - Notice required with loan application.

(1) If the following is the case, a lender and broker shall notify in writing a person from whom the lender or broker receives or for whom the lender or broker prepares a written application for a mortgage loan that:

(a) the mortgage loan applied for may be sold or assigned;

(b) the servicing of the loan may be sold or assigned; and

(c) the mortgage loan will not necessarily be held or serviced by the lender that originates the mortgage loan.

(2) A lender and broker shall provide a written notice required by this section at the time of receipt or preparation of the written application for a mortgage loan.

Renumbered and Amended by Chapter 72, 2009 General Session