§ 2415B. Prohibited acts.
272 words·~1 min read·
/de/title-6/subchapter-ii-foreclosure-consultants/2415b·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)A foreclosure consultant may not:
(1)Claim, demand, charge, collect, or receive any compensation until after the foreclosure consultant has fully performed each and every service the foreclosure consultant contracted to perform or represented that the foreclosure consultant would perform;
(2)Claim, demand, charge, collect, or receive any interest or any other compensation for any loan that the foreclosure consultant makes to the homeowner that exceeds 8% per year;
(3)Take any wage assignment, any lien, or any type of real or personal property, or other security to secure the payment of compensation;
(4)Receive any consideration from any third party in connection with foreclosure consulting services provided to a homeowner unless the consideration is first fully disclosed in writing to the homeowner;
(5)Acquire any interest, directly or indirectly, or by means of a related person, in a residence in default from a homeowner with whom the foreclosure consultant has contracted;
(6)Take any power of attorney from a homeowner to enter into a foreclosure consulting contract that does not comply in all respects with this subchapter; or
(7)Facilitate or engage in any transaction that is unconscionable under the terms and circumstances of the transaction.
(b)No person may engage in any of the activities identified in § 2402B(1) or
(3)of this title if such activities are prohibited by § 910 of Title 11.
(c)No person may engage in any of the activities identified in § 2402B(1) or
(3)of this title for which registration is required under Chapter 24 of this title, unless such person has registered and fulfilled all other applicable requirement of that chapter.